Quotation Austerer, Michael, König, Michael. 2016. Inside Research: Forecasten Sie noch oder Foresighten Sie schon? CFO aktuell - Zeitschrift für Finance & Controlling, 10 (3), 105-109.


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Abstract

This publication is based on the findings of the master thesis of Michael Austerer, which won the 1st Price of the „Excellence in Financial Leadership”-Research-Award from the CFO-Club Austria in March 2016. The financial crisis of 2007/08 represents a distruptive event that occured unexpectedly for most companies. This article investigates if, how and why strategic foresight activities of selected ATX and DAX listed companies have changed since then. The theoretical foundation is Rohrbeck's Maturity Model for the Future Orientation of a Firm and Müller/Müller-Stevens's Foresight Capabilities. The results show that all selected companies have adapted and improved their foresight activities. Suprisingly, despite the rising awareness for an increasing complexity and dynamic of company-external contextual factors, most adaptions in foresight activities were not exclusively triggered by them, but primarily caused by company-internal contextual factors such as changes in management and strategy. This demonstrates that is vital for corporations to focus on both, exogeneous and endogenous context factors, simultaneously. Especially supervisory boards of listed companies need to be aware that foresight capabilites and culture might change with the appointment of a new CEO or CFO. Hence, to ensure the continuation of good foresight practices, the boards should assess new C-suite executives according to their sensitivity to foresight.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal CFO aktuell - Zeitschrift für Finance & Controlling
Language German
Title Inside Research: Forecasten Sie noch oder Foresighten Sie schon?
Volume 10
Number 3
Year 2016
Page from 105
Page to 109
Reviewed? Y
DOI na
Open Access N

Associations

People
König, Michael (Details)
External
Austerer, Michael (Deloitte, Austria)
Organization
Strategy and Innovation DP (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5300 Economics (Details)
5307 Business and management economics (Details)
5333 Business management (Details)
5359 Controlling (Details)
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