Technology foresight for competitive advantage

Strategic planning and priority-setting have become inevitable for organizations that spend money on science and technology. Whether making or buying innovative products and processes, the activity is characterized by uncertainty and discovery. How then is it possible to square an essentially rational process such as deciding on priorities with the unpredictability of science? One approach that is attracting considerable interest has become known as Technology Foresight (or, increasingly, simply 'Foresight'). This article reviews recent activity in this area, with a special focus on a major UK government Foresight programme. A number of case studies emerging from this programme illustrate how foresight can have a tangible impact on strategy, and a few lessons are drawn on what is needed for successful foresight. (C) 1997 Elsevier Science Ltd.