How can you help others develop corporate foresight? Based on the DeCarlo articl

Question

How can you help others develop corporate foresight? Based on the DeCarlo article from the required readings, choose one company (McDonald’s, for instance) and describe how this company develops its foresight. List at least two foresights based on Forbes's analysis (provided, or at least alluded to in the text). An example of a foresight pertaining to McDonald’s could be environmental factors and growing environmental concerns—thus necessitating a stronger involvement in lobbying (indicated by Forbes in growing statistics). Do not forget to read attentively and ensure that each foresight you list is explained. You can answer the above question based on materials provided in this Unit; however, if you need additional information, please do supplementary research on your own. You are expected to apply corporate foresight knowledge to analyze the situation of one chosen company by providing two elements pertaining to corporate foresight. Minimum of 300-words for your original post, use your own words only and reference your sources. Comment on your peers’ submissions offering your own point of view while respecting differences in styles and learning. Be sure to respond to anyone who responds to you.

Reading article: DeCarlo, S (2010, April 21) The World’s leading companies. Forbes. Retrieved from http://www.forbes.com/2010/04/20/global-2000-leading-world-business-global-2000-10-intro_2.html

Explanation / Answer

In today’s corporate ecosystem wherein the business dynamics are ever changing and the customer requirement is highly uncertain in nature. In this scenario, corporate foresights play a significant role in order to achieve competitive advantage over their peers because it is imperative to detect anomalies with the existing business processes and overcome it by aligning its supply chain which in turn helps the end customer to experience a seamless flow of product, information and funds.

Below is the example of an organization for corporate foresights pertaining to environment factors and growing environment concerns:

Aramex International based out of Dubai, is a multinational organization which deals in 3th party logistics services i.e. warehousing, contract logistics, reverse logistics, record management, express delivery. The top management of the organization was very well aware that, if they are not analysing and forecasting their performance, then it would be difficult for them to serve within the marketplace. Therefore the organization took a step forward and came with new innovative solutions in their existing supply chain i.e. replacing the run sheet which is required as a proof of delivery with a mobile application wherein the customer does not have given their signature on the A4 sheet, instead they have to provide digital signature on the application. This approach was taken into consideration keeping in mind the environmental factor because the organization was using tons of white papers.

Secondly, another important foresight decision taken by the organization was replacing all the commercial vehicles which run on diesl was converted into compressed natural gas (CNG) because of the carbon emissions are on the higher side. Therefore the organization made sure the transition happens simultaneously without stopping the day to day operations.

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