Foresight, cognition, and long‐term performance: Insights from the automotive industry and opportunities for future research

Vecchiato, Riccardo; Favato, Giampiero; Maddaloni, Francesco Di; Do, Hang

doi:10.1002/ffo2.25

Cited by 18 publications

(10 citation statements)

References 84 publications

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“…Such a source is critical in analyzing the uncertain future (Slaughter, 1996). Literature shows that foresight capability will always face environmental uncertainty (Vecchiato et al, 2020). Foresight seems to evolve in environmental dynamism and is generally seen as a valuable tool for responding to the emergence of new competitive pressures (Chen et al, 2015).…”

Section: Literature Review and Hypothesismentioning

confidence: 99%

The moderating effect of competitive intensity on foresight capability and product innovation of SMEs in Indonesia

Manalu

Nurhayati

Setyanto

2023

Problems and Perspectives in Management

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This study aims to understand the performance of SME’s product innovation by relating it to the foresight concept of SME owners or managers and the moderating effect of competitive intensity. It employs a quantitative research method by using a survey. This paper studies SMEs from the West Java Province of Indonesia in three industrial sectors: food, fashion, and handicrafts. These industrial sectors were chosen because they are the most competitive, and their consumers change rapidly. Data were collected through a structured questionnaire. A total of 200 questionnaires were distributed, 190 were returned, and 187 were used for data processing. Furthermore, the data were analyzed using exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modeling (SEM). The results show that networking, time horizon, and analysis can affect product innovation performance (p &lt; 0.05). Furthermore, competition intensity does not affect the relationship between analysis and product innovation performance, although there is a relationship between networking and time horizon. The results of this study provide insight for Indonesian SMEs, especially in West Java. Foresight skills trained by SMEs will make them accustomed to facing high-level competition, especially in the time horizon dimension. However, on the other hand, the high intensity of competition can reduce their networking to collaborate with various related parties.

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Section: Literature Review and Hypothesismentioning

confidence: 99%

The moderating effect of competitive intensity on foresight capability and product innovation of SMEs in Indonesia

Manalu

Nurhayati

Setyanto

2023

Problems and Perspectives in Management

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“…One the project level, however, some evidence exists that points at the importance of a forward-looking search for new product development projects (Jissink, Schweitzer, & Rohrbeck, 2019). Our findings also suggest that CF training can help leaders to make cognitive leaps by overcoming dominant mental models (Vecchiato et al, 2019). Such leaps can also lead to the development of great strategies, which has become a new term to describe strategies that are new, unique, and transformative for an industry (Gavetti & Porac, 2018).…”

Section: Con Clus Ionmentioning

confidence: 70%

“…Such behavioral bounds are at the center of the skepticism about the ability of firms to adapt to changing environments (Gavetti et al, ). It gives rise to the hope that investment in CF practices can indeed help organizations become more adaptive to environmental changes, as suggested by Schoemaker and Day () and Vecchiato et al (). The findings also give support to the assumption that organizations may be able to proactively shape the future, as Hamel and Prahalad () called for already in 1994.…”

Section: Resultsmentioning

confidence: 97%

Corporate foresight as a microfoundation of dynamic capabilities

Schwarz

Rohrbeck

Wach

2019

Futures & Foresight Science

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The dynamic capabilities perspective is aimed at explaining how firms achieve and sustain competitive advantages, especially in environments that become volatile, uncertain, complex, and ambiguous (VUCA). In this paper, we combine factors that explain dynamic capabilities on the firm level with factors of dynamic managerial capabilities on the individual level. In addition to the dynamic capabilities theory, we draw on corporate foresight (CF) literature to test the impact of CF training. We find that both the organizational‐level practices and the individual‐level training of leaders are positively associated with firm‐level outcomes. We further observe that this relationship is mediated by dynamic managerial capabilities (i.e., the ability of leaders to challenge current business models, make decisions under uncertainty, and reconfigure organizational resources). Our findings emphasize the importance of training leaders and building organizational CF practices to build the dynamic capabilities needed in VUCA environments.

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“…An organization should try to predict changes and new events, which allows the development of business activities. Vecchiato et al (2020) suggest the automotive sector enhance research to increase understanding of the relationship between foresight and managerial cognition.…”

Section: General Skills and Knowledgementioning

confidence: 99%

Educational Requirements for Aviation and Automotive Engineering

Huhtala¹

2023

UPjeng

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Technical progress is rapid in aviation and automotive engineering. Even if these branches are different in many ways, they also have similarities, especially in the technical and service sectors. Quite a few technological innovations were first used in aircraft, and, after a few years, those innovations received their own applications in automotive engineering. Because of rapid technical development, it is important to determine what knowledge and skills will be needed in the future. This information also predicts the main directions for the education of future mechanics. The main focus of our study was to get respondents (N=81) – experts in the field – to consider their professional competencies from various views and in different time periods, according to the Janus Cones method. Our survey describes future professional competencies that will be necessary for successful working in aircraft technology and automotive engineering. The result of the study is that skills and knowledge need to be used widely, creatively and combined with thinking to produce a new type of knowledge for competence in a certain context. A thematic content analysis led to the components of professional competencies for aircraft technology and automotive engineering being subsumed under five common categories: vehicle technology and proficiency, quality and environment, safety and security, general skills and knowledge, and customer service. Four of these competencies are clearly context bound to aviation and automotive engineering; however, they might also be usable in other technological branches and various study programmes. General skills and knowledge were the only components that referred to general competencies. The results of this study are intended to help with planning curricula that will meet the needs of the next generation of aviation and automotive engineers.

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Foresight, cognition, and long‐term performance: Insights from the automotive industry and opportunities for future research

Cited by 18 publications

References 84 publications

The moderating effect of competitive intensity on foresight capability and product innovation of SMEs in Indonesia

The moderating effect of competitive intensity on foresight capability and product innovation of SMEs in Indonesia

Corporate foresight as a microfoundation of dynamic capabilities

Educational Requirements for Aviation and Automotive Engineering

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