Strategic Foresight Under Crisis
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Abstract
This paper presents a contemporary strategic planning approach which has been synthesized from concepts and theories of strategic management, strategic foresight, and scenario planning. The business environment has rapidly changed, and business executives cannot use the
same strategies previously used to develop an effective future plan to cope with the rapidly changing situations. In this paper, strategic foresight under crisis and involved principles and means to cope with a highly uncertain future will be discussed. This strategic foresight has gained widespread popularity in many developed countries with high economic growth such as the United States, the United Kingdom, the United Arab Emirates, South Korea, and Singapore. A large number of organizations in both public and
private sectors at an international level implement the strategic foresight approach in their organizations for strategic planning to reduce business risks, as well as create a sustainable competitive advantage.
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