Strategic Foresight

The increasing complexity of business environment poses a myriad of challenges for managers these days. Decision makers of any organization face the task of figuring out how to deal with this issue. The present paper argues that strategic foresight should offer a significant source of sustainable competitive advantages. It reviews relevant literature and suggests what strategic foresight is and why it is needed. With the case analyses of POSCO and its founding CEO and chairman, TJ Park, the paper attempts to explore the concept of strategic foresight and to draw implications. The cases imply that strategic foresight can be gained through intentional efforts of longer-term and broad-based thoughts.