Foresight as enabler of innovation: Empirical evidence from European companies

Foresight activities have become widely diffused among different industries and firms. On a strategic level, foresight is able to develop, renew or build competitive advantage, by enhancing the innovation capacity and technology management. On the operational level, foresight should trigger the creation of new ideas for future markets. While many case studies about the role and effects of employing specific foresight methods have been published, there is little broader empirical evidence about the effects of foresight on the innovation capability and output of firms. Based on a large survey among 229 companies in different industries across Europe the impact of foresight on different forms of innovation is investigated taking into account the organisational culture as moderating factor. The study reveals that foresight contributes to both overall innovation performance and radical product innovation.