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What is Future Strategy?

Published in Strategic Foresight 3 mins read

Future strategy is a proactive approach to planning that anticipates and adapts to uncertainties and changes, resulting in adjustments to how work is done, who does the work, and even what the work itself entails. It's more than just traditional strategic planning; it involves actively considering potential future scenarios and developing flexible plans to navigate them.

Key Aspects of Future Strategy

  • Proactive, not reactive: Unlike traditional planning that often reacts to current events, future strategy anticipates potential challenges and opportunities. This allows organizations to be better prepared for what lies ahead.

  • Scenario Planning: This involves developing different plausible future scenarios (e.g., optimistic, pessimistic, disruptive) and creating plans to respond effectively to each. Futures Strategy Group is an example of a company specializing in this.

  • Adaptability and Flexibility: Future strategies are designed to be flexible and adaptable. Plans are not rigid but rather evolve as new information becomes available and circumstances change. The California Water Plan Update (https://resources.ca.gov/-/media/CNRA-Website/files/initiatives/water-resilience/CA-water-supply-strategy.pdf) demonstrates the need for adaptable water management strategies in a changing climate.

  • Focus on Long-Term Vision: Future strategies consider long-term goals and visions, rather than just short-term objectives. This long-term perspective helps organizations stay aligned with their ultimate goals despite unforeseen events. Unilever's Clean Future strategy (https://www.unilever.com/brands/home-care/clean-future/) exemplifies a long-term commitment to sustainability.

  • Integration of Foresight: Successful future strategies integrate foresight into their operations. This involves actively seeking information and insights about potential future trends and disruptions. As highlighted in Bringing True Strategic Foresight Back to Business (https://hbr.org/2024/01/bringing-true-strategic-foresight-back-to-business), foresight is crucial for effective business strategy.

  • Addressing Uncertainty: A core element is handling the unpredictable nature of the future, embracing uncertainty, and building resilience into the organization. Examples include the Australian Future Gas Strategy (https://www.industry.gov.au/publications/future-gas-strategy) and California's Salmon Strategy for a Hotter, Drier Future (https://www.gov.ca.gov/wp-content/uploads/2024/01/Salmon-Strategy-for-a-Hotter-Drier-Future.pdf) which acknowledge and plan for environmental uncertainties.

Examples of Future Strategies in Action:

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