Today’s market is driven by constant shifts in consumer behavior and industry dynamics. This means that brands need to be more proactive in managing change. While planning for the short-term often takes priority over looking towards the next decade and beyond, it is important to understand the trends and disruptors that will shape an organization’s future. Given the fact that most retail and brand transformations take years to implement, it is never too early to start putting an emphasis on future-proofing your company.
Strategic foresight is the longer view of a transformation process, and helps companies take into consideration the uncertainty, complexity and ambiguity of the marketplace. SLD’s strategic foresight approach enhances transformation initiatives by taking into account potential market scenarios that will influence the sustained success of a brand. Our systematic analysis of markets and forces of change allows organizations to capitalize on opportunities beyond current perceptions.
Through forensic research review, stakeholder interviews and market analysis, the first step is to clearly understand the key challenges facing an organization. The exercise culminates in the identification of current and future needs for the client, thus providing a focus on which areas the process will help overcome.
Leveraging the identified challenges, the strategic foresight process then explores a wide range of STEEP factors defined by Social, Technology, Ecology, Economic and Political headwinds and trends that could impact the desired brand transformation outcome. This exercise leads to a set of scenarios that are then ranked, based on low to high probability and impact. The process culminates with a series of stories, image boards and videos, bringing to life the various scenarios.
The final stage of the process leverages the future state scenario into potential outcomes that are to be considered as part of the transformation process. These potential outcomes are filtered through our message, process and structure levers of change.