Exploring Individual Foresight: Implications for Organisational Learning and Innovation in Firms

Corporate foresight is considered an organizational capability that contributes to the innovativeness and sustained competitive advantage of firms, particularly in the presence of organizational learning. Business literature positions individuals as an important component of the corporate foresight process, however, it provides limited clarification about how individuals do foresight; or more specifically how they experience foresight in organizations. Embracing the resource-based view of the firm to consider the role of knowledge management in innovation, this study seeks further understanding of how individuals utilize tacit knowledge in Individual Foresight (IF) and engage in organizational learning mechanisms to contribute to innovativeness. I examine the microfoundations of Individual Foresight (IF) to determine how employees experience IF in an organizational context. Adopting a phenomenological approach, twenty-seven interpretive phenomenological analysis (IPA) interviews were conducted with employees across finance and insurance, and utilities industries resulting in a theoretical framework of IF comprising four elements: The Person, The Process, The Outcomes, and The Context. Examining the lifeworld of individuals as they experience foresight revealed a rich tapestry of both personal and intra-organizational social capital interactions useful in demonstrating the role of IF for innovation in firms. Mechanisms such as storytelling, mentorship, group and personal reflection, supported by an appropriate culture, leadership approach and human resource strategies confirm the value of fostering IF to encourage innovative outcomes for firms. This study advances foresight research by broadening existing knowledge and understanding of the role of individuals in the foresight process, and uniquely, by enhancing understanding of how individuals experience foresight in an organisational setting. Implications for HR practitioners and foresight researchers are discussed.