Weak signal based foresight service

The purpose of this thesis was to investigate the utilization of foresight information in an organization, especially to support strategic planning. Finpro has recently launched a foresight service for Finnish companies. The service bases on collecting weak signals globally, analyzing them, and using the results to anticipate future challenges and opportunities. The objectives of this study are to find out how Finpro should organize its foresight service in order to satisfy the needs of all its stakeholders, which are Finnish economy, individual companies, and Finpro members, and how it can differentiate from other players of the foresight field in Finland. In today´s rapidly changing circumstances, it is ever more important to react quickly and seize on opportunities on time. It is difficult to plan and implement company´s strategy in this hectic and ever-changing business environment. Weak signals are currently apparent, vague issues, which can hint on future trends, changes, and emergent phenomena. The problem is that weak signals are not usually correctly understood in their time of appearance, but they can be shown afterwards. By monitoring systematically the business environment, signals can be collected, analyzed, and used to support strategic planning of a company. This case study uses action-oriented research methodology and is divided into theoretical and empirical parts. The main outcome of the empirical part is the expectations of different Finpro stakeholders about foresight services, and a suitable business model for implementing the ideas in practice. The study is based on a questionnaire sent to Finpro stakeholders. In addition, five interviews were conducted to get a deeper view. Based on the answers and the comparative study of the foresight field was concluded how Finpro should differentiate from the other actors in the field. The study shows a clear interest and need for foresight services. Finnish companies monitor their environment and utilize the results in their actions, though needing analyzed information and support of using it in their strategic planning. Both free and general trend information, as well as fee-paying tailored analysis and foresight services was seen interesting. Finpro´s services are unique by offering comprehensive foresight information and profound insight to support companies´ strategy work. Finpro´s foresight work enriches the whole innovation system in Finland. /Kir1