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Hindsight - Insight - Foresight

Looking Forward

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The Institute of Director, releasing its Forward Thinking Report, stated that far too many businesses are flying blind when it comes to analysing the future.  The Report analyses how UK companies think about the future across the external environment and commercial spectrum.

IoD Chief Economist, Graeme Leach said: “Companies need to engage in new and imaginative ways of analysing the future.”

Among the key findings in the report:

• More than a quarter of companies surveyed admitted they did no analysis of the future external environment;

• A quarter of companies surveyed believed their organisation had underperformed due to inadequate thinking about the future external environment;

• Over half of the companies think the UK lacks a culture which encourages better future analysis;

• One third admit the people responsible for analysing the future do not have the appropriate skills;

• The board is still the key driver for forward thinking and could use internal knowledge more fulsomely.

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