Title: Strategic foresight for competitive advantage: a future-oriented business and competitive analysis techniques selection model

Authors: Jari Kaivo-oja; Steffen Roth

Addresses: Turku School of Economics, University of Turku, Finland; Big Data Excellence Centre, Kazimieras Simonavičius University, Vilnius, Lithuania ' Department of Strategy, Excelia Business School, La Rochelle, France; Next Society Institute, Kazimieras Simonavičius University, Vilnius, Lithuania

Abstract: 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 systematisation and further development of strategic foresight methodology.

Keywords: strategic foresight; technology forecasting; business intelligence; competitive analysis; BCA techniques selection; FAROUT.

DOI: 10.1504/IJFIP.2023.136714

International Journal of Foresight and Innovation Policy, 2023 Vol.16 No.2/3/4, pp.323 - 353

Received: 14 Feb 2022
Accepted: 15 Feb 2023

Published online: 19 Feb 2024 *

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