Pitfalls in and success factors of corporate foresight projects

Abstract

The main purpose is to propose a new and integrated framework for the pitfalls in and success factors of corporate foresight projects in order to facilitate better conversion of their results into actual changes in corporations. The main approach is theoretical development of corporate foresight success factors and project management followed by a conceptual framework. The paper proposes to increase the 5 Cs of successful foresight projects to 12 Cs by incorporating content, competence, change, continuity, courage, curiosity and connectedness. We also link them with possible pitfalls likely to be fallen into different phases and stages of corporate foresight projects. The paper is limited to a conceptual model. Further research should include analysing the level of the reported success of foresight project results of companies based on our assessment model. It is hoped that the proposed framework will support the reliability of the foresight studies and bring a new methodological challenge.