...companies in order to survive and grow. Foresight is about thinking, debating and shaping the future and thus these foresight activities play a crucial role in today’s decision making process within the organization which would influence the future survival, growth and success of the corporate.(Daheim, C & Uerz G. 2006) Corporate foresight has been defined as an ability that includes any structural or cultural element that enables the company to detect discontinuous change early, interpret the consequences for the company, and formulate effective responses to ensure the long-term survival and success of the company (Rene Rohrbeck, 2011) In particular, corporate foresight activities are an increasingly important tool to make better long-term decisions, support innovation activities, strategic planning by identifying the emerging technologies and trends which would create the future scenarios. In brief, corporate foresight can be expected to be a mechanism that enables companies to profit from fundamental change. Today, when we critically evaluate the success of the foresight activities planned and executed in the past we are generally answering the question to learn “ how accurate have been in fore sighting the change” rather than trying to understand if this foresight activity has added any value to the growth or success of the corporate. Consequently, in this study the author sheds light on the value creation from corporate-foresight activities and methods and practices used...
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...prosperous both in the short and in the long run (see Ullrich, 2009, p. vii). One instrument which shall simplify and optimize the process of forecasting prospective events is called strategic foresight. It is meant to enable a meaningful preparation for an uncertain future. However, to ensure an useful implementation and application of this management instrument it is necessary that a very accurate adaption to the company specific factors such as long-term strategy takes place beforehand (see Müller et al., 2009, p. V). Strategic foresight is closely related to strategic management functions: they both have the purpose to observe and analyze the company environment. This concerns the market situation and current and potential competition on the one hand. Involved are several parties such as customers, suppliers or employees. One the other hand, strategic management and foresight both deal with general conditions as well. Examples are the current economic situation, technological development or social conditions. The observation of the just mentioned factors serves only one cause: the making of assumptions about future states and the taking of useful decisions which lead into a successful future (see Müller et al., 2009, p. 11). According to Horton (1999) in Müller et al. (2009), the foresight process which results in future-oriented decisions consists of three determined steps. The first one involves research activities including the...
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...Technology in Banking Insight and Foresight Institute for Development and Research in Banking Technology (Established by Reserve Bank of India) Foreword The Indian banking industry, almost in keeping with the deep entrepreneurial approach of the country s business, has come a long way. This report is an effort to capture some exemplary initiatives and developments so far as well as discuss the emerging trends. The insights and understanding of the technology trends and ground-level work being done by the banks has been culled from the nominations received from banks for the IDRBT Banking Technology Excellence Awards 2010. The transformation of Indian banks in the last decade has been phenomenal from local branch banking to global presence and anywhere-anytime banking. Most of the regular banking transactions can today be carried out from mobile phones. Sustained reforms and information technology (IT) have played a pivotal role since the initiation of the second phase of reforms post 1998. The benefits of technology such as scale, speed and low error rate are also reflecting in the performance, productivity and profitability of banks, which have improved tremendously in the past decade. Regulatory initiatives from the Central Bank have also played a large role in the banking sector. Robust technology-enabled organizations have now become the mainstay of the industry. Initiatives such as electronic clearing service (ECS), national electronic funds transfer (NEFT), real-time...
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...Internet Field Trip Forecasting Methods Environmental Scanning Environmental scanning refers to the process of scanning the media to identify emerging issues to enable organizations or individuals to anticipate and respond to changes in the external environment. Scanning is meant to provide strategic intelligence to the strategic planning process by identifying changing trends and potential developments, monitoring them, forecasting their future pattern and assessing their impacts. The objective of scanning is to look over the widest range of possible factors and to identify connections with the organization's function or business, and especially to identify the significant positive or negative effects those could have on the organization and its activities. Scanning may be active or passive. Passive scanning is what most people do when they read journals or newspapers. (Methods and Approaches of Futures Studies) Judgmental Method Judgmental Forecasting is the most common method of actual Forecasting. especially when the decision to be undertaken is critical and exact data required is unavailable or unreliable. Such methods are particularly useful when historical data is scarce. This method is used when the forecaster views himself as an expert in the area. Judgmental Forecasting may be based on theory and/or actual analysis of data, but, no formal decision rule exists to lead to ultimate forecast. It is sometimes argued that subjective analysis is useful in...
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.......................................8 ISSUE 5 - TECHNOLOGY AND INNOVATION AS THE KEY ENABLERS ..........9 What do I do now? .......................................................................................11 Panel and Task Force Members .........................................................12 What is Foresight....................................................................inside back cover www.foresight.gov.uk 1 What’s this all about? It is easy for people in business to downplay or ignore the importance of thinking strategically about the future. Day-to-day problems always seem to need immediate attention. Predictions about the future are invariably wrong. And, on the surface, the world we live in today doesn’t look or feel that different to what it was 10 years ago. So why should it change much over the next 10-20 years? But the fact is that the world is changing beneath our feet. And will go on changing at an ever faster rate in ways we can only start to imagine. Change will bring with it new possibilities and new opportunities. If the UK isn’t ready, it will miss out. If your business isn’t ready, you could be history. The Foresight Manufacturing 2020 Panel was set up to identify the key issues that will shape the future...
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...Strategic Communication Ethics Ethics is the subjects that define the difference between the right and wrong, in terms of business it is refereed as the ethical literature of doing business. Ethics has always been a part of our lives, defining our boundaries for deciding whether which side would favor us and which side is the right one. Many ethical philosophers believe that the act of doing right or wrong is totally depended on the situation. Philosophers also believe that ethics is science of conduct that motivates each individual to live under the defined conducts of life. Ethics is not a new subjects, it is from the times of Socrates and Plato around 2500 years back when the theory of ethics came as the “state of art”. Ethics has played a very important role in translating legal laws and regulations; ethical guideline is required for the assessment of new laws. Ethics focus on creating and sustaining more moral values such as honesty, responsibility, respect etc. These values are termed as the moral or ethical principles. Business Ethics When we say Business Ethics, it is subjected to the behavior of working in an office atmosphere. It is important to work right and do what is right at workplace. There is a very special relation that the company has with its customers and stakeholders; the company is always working hard to please them. Business Ethics also involve the ethical behavior of one employee with the other, the healthy conversation between the manager and...
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...Dear American Medical College Application Service: It is a true pleasure for me to write this letter of recommendation for Meredith Green as part of her application to medical school. I have had the privilege of knowing Meredith for the past 18 years. We have spent numerous holidays together, shared many life cycle events, and above all, she has been a wonderful role model to my own five children. One of the most outstanding traits that I have always noticed in Meredith is that she has always demonstrated a great deal empathy and generosity toward other people. When she was a young teen, she was constantly involved in our synagogue youth group, raising funds for family shelters, local community food bands, and countless other needy organizations. As Meredith has matured, she has continued her involvement in community service while volunteering at the Newborn Intensive Care Unit at Good Samaritan Hospital. Meredith recently shared one of her dreams regarding becoming a doctor with me; she told me how she wants to someday create a theater/drama camp for children battling cancer. Her eyes lit up with enthusiasm and determination while thinking of the never ending possibilities of such a program. In my opinion, it takes a very special person to have the wisdom and foresight to envision using her skills in such a beneficial manner. I believe Meredith’s reflective nature, undaunted determination, and above all else, her clear dedication to helping others makes her a...
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...This code shall take effect on the first day of January, nineteen hundred and thirty-two. Article 2 Application of its provisions Except as provided in the treaties and laws or preferential application, the provisions of this code shall be enforced not only within the Philippine Archipelago, including its atmosphere, its interior waters and maritime zone, but also outside of its jurisdiction, against those who: 1. Should commit an offense while on a Philippine ship or airship; 2. Should forge or counterfeit any coin or currency note of the Philippine Islands or obligations and securities issued by the Government of the Philippine Islands; 3. Should be liable for acts connected with the introduction into these Islands of the obligations and securities mentioned in the preceding number; 4. While being public officers or employees, should commit an offense in the exercise of their function; 5. Should commit any of the crimes against national security and the law of nations, defined in Title One of Book of this Code. Article 3 Definition Acts and omissions punishable by law are felonies (delitos) Felonies are committed not only by means of deceit (dolo) but also by means of fault (culpa) There is deceit when the act is performed with deliberate intent; and there is fault when the wrongful act results from imprudence, negligence, lack of foresight, or lack of skill. Article 4 Criminal liability Criminal liability shall be incurred: 1. By any...
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...REVIEW ON COMPETING FOR THE FUTURE BY GARY HAMEL AND C K PRAHALAD This book is providing tools and concepts need to focus on technically produced with strategic planning in order to achieve the future success for a company as it has described the method of reinvention to satisfy corporate needs to be achieved through experience and discovery in the critical situation where company’s were fallen flat by the lack of integration and to have a fresh change that make the employee to work. It also focuses on combining companies and corporate visions for function operations. This book was very insightful in the area of teaching senior and top management skills and qualities that need to be possessed to be a successful company. The core competencies are not product specific but some exceeding resources and patience of single business unit create more options in the market. Business needs involving continuous leverage of core competencies with major contribution at all level of management for building and nurturing sophisticated, and more positive, and strategic architecture as a high-level blueprint for the reconfiguring of the interface with customers. As strategic intent is strategic architecture’s capstone but it’s an ambitious and compelling strategic intent that provides the emotional and intellectual energy for the journey. They are trying to create ambitious aspiration for the future and all in its importance. Gary Hamel and CK Prahalad emphasize that companies are focusing...
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...CHAPTER ONE PROPOSAL and FORESIGHT 1.1 EVENTS MANAGEMENT. Event management is the application of project management to the creation and development of festivals, events and conferences. As an event manager, one is responsible for managing an event from conception through to staging. Event management involves studying the complexities of the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually launching the event. Post-event analysis and ensuring a return on investment have become significant drivers for the event industry. The recent growth of festivals and events as an industry around the world means that the management can no longer be done or set up for a sole and particular purpose. Events management entails the overseeing of all sorts of events from the Olympics co-ordination and staging down to the planning of a breakfast meeting for ten business people. A BRIEF WRITE UP ON MY PROPOSED PROJECT. I Karika Oghenerugba Oghenefega, Matriculation number 09/Sci01/014, from the Computer Science department of Afe Babalola University Ado-Ekiti Ekiti state, intend to explore the discuss of Events Management and implement my foregained knowledge in my field of study, Computer Science, in the development of an application software which may be used in the planning and management of events. This application software would be able to ensure the supervision of planned out events...
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...Five Force Model………….……….……………….…………6 5. Conclusion…………………………………………………………………………….8 6. References…………………………………………………………………………….9 Introduction This paper aims to answer the following questions: Do you agree or disagree that Apple’s iTunes, iPhone applications, and iPad applications give the company a competitive advantage? Be sure to justify your answer? Why are data, information, business intelligence, and knowledge important to Apple? Give an example of each type in relation to the iPad. Analyze Apple using Porter’s Five Force Model. Which of the three generic strategies is Apple following? Which of Porter’s Five Forces did Apple address through its introduction of the iPhone? Which of Porter’s Five Forces did Apple address through its customer-developed applications? How does Apple apps give them competitive advantage? There are various factors that brought Apple back from near extinction. One of which, was its ability to produce, market and sell IT products such as the iPhone, iPod, iPad, iTunes, and customer developed applications. If the top executives of Apple did not have the ability to foresight and see that the MP3 player could be a point of competitive advantage, then chances are that the company would not have made a strong comeback the market of electronics, which is highly competitive. Therefore, I...
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...Critically Evaluate the Law in the areas of Murder and Voluntary Manslaughter and include the consideration of possible reforms. Homicide, in English criminal law is a generic term covering offences such as murder, manslaughter and death by dangerous driving. What they all have in common is the unlawful killing of a human being, and what distinguishes them is the state of mind of the defendant who has caused the death or the defences available to them. According to Coke's classic definition, Murder is when a man of sound memory and of an age of discretion unlawfully killed within the any country of the realm any reasonable creature in rerum natura (the person) under the King's peace with malice afore thought either expressed by the party or implied by law. [So as the party wounded etc die of the wound or hurt, etc within a year and a day of the same]. Coke's definition should not be read literally and it is neither accurate or helpful. For instance, any person can be found guilty of murder and the year and a day rule was abolished by S1 law Reform Act 1996. The reference to 'malice afore thought' this suggests some element of planning and ill will on the part of the murder when in truth it can be spontaneous and the law requires no evidence of ill will. From the outset it should be started that a few centuries of Jurisprudence and the odd statutory intervention such fundamental terms as causation & intention let alone when does life begin and end should have been well matured...
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...used, Joshua Humphreys planned past the then present issue of the Barbary States into the possibility of future conflicts with the dominant seafaring presence, the British—an additional effort that certainly bore fruit. Granted, this could often lead to overcautiousness and conflicting views on the best policy or procedure, like those that postponed the large-scale building of the Navy for so long, as well as further damning the endeavor if failures are met, such as with the explosion of the Intrepid and the fall of the Chesapeake. However, such debate helps raise valid concerns and provide valuable insight from both sides to form a more holistic consideration of the issue at hand, and, as for the failures, hindsight makes up for what foresight lack through the learning from past loss. Additionally, it was the losses sustained by gunboats that proved the need for a more solid Naval...
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...threats -identify ways DiGi can use its strengths to reduce its vulnerability to external threats WT Strategies -using defending method to reduce internal weaknesses and at the same time avoiding external threats -establish a defensive plan to prevent the DiGi's weaknesses from making it highly susceptible to external threats Strengths -Innovation -Affiliation with Telenor –wider overseas coverage -Experienced management personnel from overseas -Good reward systems to subscribers -Stable (increasing) number of subscribers leading to Strong Financial Performance -World Class R&D -Facilities– auto reloads online payment, etc Weaknesses - Dependency on strategic sharing between mobile producer, application writer and etc -DiGi Ambassadors –lack of involvement -Latest info on new technologies seldom/late to reach end users4. -Lack of base station compared to other operators/competitors Opportunities -Globalization -Influx of foreign worker -High capital investment -Malaysia higher standard Of living -Advance technology –need competent human resource Threats -High inflation –increased price -2010 dub the broadband year of Malaysia -High bargaining power of consumers -Malaysian government discourage cell phone usage among school kids -Continuous technology -Advancement in wired & wireless technology Why SWOT? -determine what opportunities are open for your company and how to capitalize on your strengths...
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...not coerce compliance; instead convince others to be compliant. This is one of the more profound distinctions between servant leadership and traditional authoritarian models. Servant leaders effectively builds consensus within the group. Conceptualization- Servant leaders attempt to nurture their abilities to dream great dreams. One must think beyond day-to-day realities to view issues or organizations from a conceptualizing perspective. Traditional leadership tends to focus on short-term operational goals. Those who seek to be a servant leader must use a more expanded conceptual view. Effective executive leaders need to be both conceptual and operational. Foresight – A leader knows when they experience foresight. In essence foresight is being able to see what the future holds. Possessing the characteristic of foresight allows the servant leader to understand the lessons from the past, the realities of present, and consequences that may come from future decisions. Stewardship- Peter Block defined as “holding something in trust for another” (block). First and foremost servant leadership reasons that serving the needs of others should be at the forefront. Commitment to the growth of people – Servant leaders have a belief that people have an innate value beyond their contributions as workers. Therefore a servant leader has a deep commitment to the growth of all individuals within his or her organization and takes the responsibility to do everything in their power to nurture the...
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