Strategic Foresight for Competitive Advantage : A Future-oriented Business and Competitive Analysis Techniques Selection Model

Abstract

<p>In this article, we develop a strategic foresight techniques selection model. To this end, we build on the classical FAROUT assessment of business and competitive analysis (BCA) techniques, which we extend and redesign to allow for context- and purpose-specific selections of BCA techniques that combine robust future-orientation with one or all other FAROUT criteria: accuracy, resource efficiency, objectivity, usefulness, and timeliness. The results of this approach are informative for decision-makers who wish to make systemic and context-specific choices among the existing BCA techniques. Our research thus contributes to the systematization and further development of strategic foresight methodology.</p>