Tag Archives: risk management

How Organizations Can Utilize Futures Research for Strategic Planning

How Organizations Can Utilize Futures Research for Strategic Planning

GUEST POST from Chateau G Pato

Organizations of all sizes are becoming increasingly aware of the value of predicting future trends and utilizing them for future strategic planning. Futures research, which involves forecasting potential development trends and analyzing their impacts, can be an extremely powerful tool in setting both short-term and long-term business goals. By effectively leveraging the insights uncovered from futures research, companies can save time, resources, and money while making better data-driven decisions.

Futures research enables organizations to better assess risk, identify opportunities, and formulate plans to best capitalize on them. It also helps anticipate potential changes in the industry and the economic environment, allowing them to devise the most proactive strategies. With this knowledge, organizations can make educated decisions on pricing, marketing tactics, product development, and other business activities.

Case Study 1: Predicting Consumer Preferences

A retail clothing store wanted to better understand their customer base and anticipate their preferences in the coming year. As part of their futures research, the store analyzed past consumer data to determine current purchasing trends, evaluated the impacts of seasonality, and identified potential future shifts in the market. Armed with these insights, the organization was able to adjust their inventory and make more targeted marketing campaigns to better align with their customer base.

Case Study 2: Enhancing Risk Management

An energy company wanted to more accurately measure their risk exposure to potential economic changes and competitive disruptions. As part of their strategic planning activities, they engaged a professional research firm to conduct a full futures research analysis. The analysis included a comprehensive review of the current market, the impact of potential political and economic events, and competitor strategies. Armed with these insights, the organization was able to make informed decisions that limited their future risk exposure.


Overall, utilizing futures research provides organizations with a comprehensive perspective on both their current and future business operations. By leveraging this approach as part of their strategic planning activities, organizations can stay ahead of the curve and plan more effectively for the future. Furthermore, it is imperative for managers to stay up-to-date on industry trends as they can provide powerful operational insights and help organizations stay competitive.

Bottom line: Futurology is not fortune telling. Futurists use a scientific approach to create their deliverables, but a methodology and tools like those in FutureHacking™ can empower anyone to engage in futurology themselves.

Image credit: Pexels

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What is the Cost of a Failed Change Initiative or Innovation Project?

What is the Cost of a Failed Change Initiative or Innovation Project?

It seems like a simple question.

One that you would expect to lead to some risk mitigation behavior, but it doesn’t.

And when you consider that companies are spending an increasing amount of their budget on technology and working to transform their operations to be more digital in order to provide a better experience for customers, employees, partners and suppliers while simultaneously creating a more efficient and effective business, you would think that companies would do everything possible to make sure that these projects succeed, but they don’t.

Everyone knows that a lot of technology projects fail to achieve their intended objectives, timings, and budgets. This fact and the increasing investment levels should cause more executives to look for ways to de-risk these technology investments in digitizing the business, but they’re not.

Why is that?

Are we really so afraid of learning new ways of doing things that would dramatically reduce the risk and expense of project failures that we will continue using the old ways even though we know they don’t work?

Even though there are incredibly inexpensive and easy ways of reducing both the risk of project failures and the cost of project execution, patterns of behavior are not changing…

Perhaps you see the world differently.

Perhaps you’re fed up with project failures and want to increase the speed of both change execution and change adoption.

Consider answering these five simple questions before spending a single minute on your next innovation project, change initiative, or digital transformation effort:

  1. How much is an hour of your time worth to the company you work for? (multiply this by the number of hours you expect to invest in this project or initiative)
  2. What is the fully-loaded monetary value of the time that employees are going to spend on this project or initiative?
  3. How much do you pay to a single contract project manager to spin up a project before the first minute of actual work begins? Over the life of the project?
  4. How much are you planning to spend with consulting companies on this project or initiative?
  5. How much are you planning to spend on contractors to staff this project or initiative?

Get access to the Change Planning Toolkit for less than $100Have you got the numbers in your mind?

Now, are any of these numbers $100 or more?

I’m sure they are, unless of course you’re going to do the project yourself in less than an hour and don’t value your time very much.

So, what if I told you that for less than $100 you could plan and execute your change initiatives, innovation projects and transformation investments in a much more visual and collaborative way and simultaneously reduce the chances of project failure and the cost of executing your project?

Well, you can. You just have to be willing to challenge orthodoxies and use a new set of tools, a new approach, that will feel very natural and empowering if you’re already comfortable with the Business Model Canvas, Lean, Design Thinking, or the Lean Startup.

All you need to get started is a copy of my latest book Charting Change and a $99.99/yr license for the Change Planning Toolkit™ (which comes with a QuickStart Guide). In exchange you’ll get tools worth more than $1,200 and will help to support the creation of the Human-Centered Innovation Toolkit™.

It’s as simple as that.

And to get you started if you’re still unsure, go ahead and grab the 10 Free Downloads and the poster-size Visual Project Charter™ and the poster-size Experiment Canvas™ from the under-construction Human-Centered Innovation Toolkit™.

Let’s change change and keep innovating – together!

Accelerate your change and transformation success

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