Strategic foresight of entrepreneurial firms in energy transition

Abstract

PurposeThe purpose of this study is to explore the principal research query and whether strategic foresight deployed by entrepreneurial firms in energy transition aims at crafting future readiness.Design/methodology/approachWith a focus on entrepreneurial firms working in the alternative energy segment in the Indian context, the intent is to examine the deployment of strategic foresight by incumbent firms and their entrepreneurial journey. The authors have adopted the approach of Eisenhardt for this research. The area of interest for the authors entailing strategic foresight by entrepreneurial firms in energy transition aligns with defining features reflecting the aim of Eisenhardt method for this exploratory research coupled with constructivism.FindingsWhile the future scenarios in the energy sector have to be necessarily multiple, their alignment with different geographic, economic, demographic and political outlooks shall be defined by the pathways niched through the deployment of strategic foresight for arriving at those scenarios.Research limitations/implicationsStrategic foresight deployed by entrepreneurial firms has the potential to create future readiness through self-reliant sustainable economic value chains for local populace, thus propagating holistic development in remote regions.Originality/valueThis paper attempts to knit together the domains of strategic foresight, entrepreneurial firms and energy transition through case research and present the future thinking deployed for navigation in uncharted pathways by capturing the foresight component of these incumbent firms chosen through careful case selection. The narrative has been strengthened by the varied interviews across participants and the observations made by the authors during the research work.