business foresight and acumen
Then store your notes in the database and use as needed to augment
variance reporting.
• Comparisons and Analysis Compare actual billings to budgets by suite,
then compare revenue and capital expenditures by category. The system
also includes square footage audit reports, proforma cash flows by budget
type and other essential reports to meet the full range of forecasting needs.
Foresight is, first and foremost, about engendering a culture of forward thinking, one in which it becomes natural for decisionmakers at all levels in an organisation to be constantly looking ahead to t r y and anticipate the changes in the global market. These could, for example, be developments in science and technology, or perhaps changes in the economic, social or political environment in which the sector operates. In particular Foresight is about developing alternative scenarios of what the future may bring and then investigating the threats they imply and how one might arm against them, but more importantly the opportunities they provide and how one can prepare to exploit them.
Foresight is a method for improving long-term decision-making, especially for innovation policy. It involves looking systematically into the longer-term future of science, technology, the economy and society, with the aim of identifying areas for strategic research and emerging technologies likely to produce the greatest economic and social benefits. Foresight enables strategic planners to enter the realm beyond what is normally predictable, and to evaluate key long-term uncertainties and their implications for current decisions.
Foresight has become well established in several countries, making a critical input to national science and technology policy. Implementing it at the regional level has been more difficult - but here, too, it can influence policy-makers, academics and enterprises.
Not only foresighting the future is important but also coordinating between foresight and policy planning is also very important. But in this process the following questions will be raised:
 When and how should foresight be embedded in policy-decisions and when should it be conducted at arms length?
 How to gauge the impact of foresight on decision-shaping and decision-making?
 What needs do policy planners have that might be met by foresight?
 How might policy planners improve the use and effectiveness of foresight?
 What more might foresight practitioners do to meet policy needs?
 How can foresight be better integrated with other strategic policy intelligence - technology assessment, forecasting and evaluation?
“Indian MBAs lack business acumen"
A couple of years ago, when Suman Modwel, Professor of International Business Policy at Paris-based Ecole Nationale des Ponts et Chaussees (ENPC), was in India to deliver an inaugural lecture, he made a few observations. These gave him an insight into why Indian students enrol in an MBA.
``I posed two questions to a class of hundred-odd MBA students. First, I asked how many of them wanted to take up a great job with an MNC and earn a lot of money. They all raised their hands,'' recalls Modwel, who is also the International Dean, MBA, ENPC, Kochi. ``And how many of you want [next page]