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Foresight & Strategy in the Asia Pacific Region pp 91–107Cite as

Foresight and Strategic Thinking Enabling Valuable Strategy

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Part of the book series: Management for Professionals ((MANAGPROF))

Abstract

Contrary to the common belief that foresight and strategic thinking are similar or even the same, it is increasingly acknowledged that they are distinctly different concepts. It is suggested that by being able to differentiate foresight and strategic thinking as academically recognized preconditions for effective strategy, and identify what the important dimensions of these forms of thinking are, we are able to predict more accurately what inputs into strategy lead to success.

Although much has been written about foresight and strategic thinking, and their link to strategic leadership, there is a lack of empirical research related to these concepts and how they interact in making strategy.

Foresight is an innate human cognitive ability. The way in which foresight is used by leaders differs according to context and their dominant predispositions. Styles of foresight, not mutually exclusive, are adopted by humans whenever they are required to engage the future.

Strategic thinking is a task. It is a cognitive function that necessarily precedes strategy formulation. Its purpose is to develop organizationally useful direction and proposed actions based on the intention to achieve a desired viable future (short, medium or long-term).

The definitions and application of foresight and strategic thinking are conceptualised. The similarities and differences between the two concepts are investigated and presented. The concept of strategic foresight is also discussed in relation to the distinct concepts of foresight and strategic thinking.

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Authors and Affiliations

  1. Professional Studies, University of Southern Queensland, Toowoomba, Queensland, Australia

    Luke van der Laan (Director)

  2. Risk Consulting Division, Deloitte (Southeast Asia and Asia-Pacific), Singapore, Singapore

    Janson Yap (Regional Managing Director)

Authors
  1. Luke van der Laan
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  2. Janson Yap
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van der Laan, L., Yap, J. (2016). Foresight and Strategic Thinking Enabling Valuable Strategy. In: Foresight & Strategy in the Asia Pacific Region. Management for Professionals. Springer, Singapore. https://doi.org/10.1007/978-981-287-597-6_5

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