Definition The knowledge economy refers to a system where the production and services based on knowledge-intensive activities contribute to an advanced proportion of economic growth and wealth creation. It emphasises the importance of intellectual capabilities rather than physical inputs or natural resources. Example Silicon Valley, California This s a prime example of a knowledge economy … Read more
Definition Strategic foresight is a disciplined and systematic approach to exploring and anticipating potential futures to inform decision-making and strategic planning. It involves identifying emerging trends, uncertainties, and possible scenarios to help organisations or individuals prepare for and shape the future. Unlike traditional forecasting, which relies on predicting a single outcome, strategic foresight considers multiple … Read more
Definition In the context of leadership and business, “conscious” refers to an approach that emphasises awareness, purpose, and responsibility beyond profit-making. It involves leaders and organisations operating with a holistic understanding of their impact on stakeholders, society, and the environment. This approach prioritises ethical decision-making, sustainability, and the well-being of all parties involved. Example Patagonia … Read more
Definition Artificial Intelligence refers to the development of computer systems capable of performing tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation. AI systems can learn from experience, adjust to new inputs, and perform human-like tasks. Example IBM Watson A real-world example of AI in action is IBM’s … Read more
Definition Scenario planning is a strategic method used to envision and prepare for multiple plausible future states. It involves developing detailed narratives about possible future environments to help organisations make flexible long-term plans. Example Royal Dutch Shell’s use of scenario planning in the 1970s is a classic example. In 1972, Shell’s planners developed scenarios including … Read more
Definition Wicked problems are complex, interdependent issues that are difficult or impossible to solve due to incomplete, contradictory, and changing requirements. They often involve multiple stakeholders with conflicting values and are resistant to traditional problem-solving approaches. Example Climate Change Climate change is a classic example of a wicked problem. It involves complex interactions between environmental, … Read more
Definition In futures thinking, ‘exponential’ refers to a pattern of growth or change where a quantity increases by a constant factor over equal time intervals. This results in a curve that starts slowly but then rises dramatically, often leading to rapid, transformative changes in technology, society, or other domains. Example Moore’s Law: Moore’s Law is … Read more
Definition Systems thinking is an approach to problem-solving and analysis that focuses on understanding how parts of a whole interact with each other to produce overall outcomes in complex systems. It emphasises looking at the bigger picture, identifying interconnections, and recognizing patterns of behaviour over time rather than focusing on isolated events or parts. Example … Read more
Definition Speculative fiction is a broad literary genre that encompasses works which imagine alternative realities, futures, or scenarios that differ from our current world. This genre includes but is not limited to science fiction, fantasy, horror, alternate history, and utopian or dystopian fiction. Speculative fiction explores “what if” scenarios, often extrapolating from current trends, technologies, … Read more
Definition A circular economy is an economic system aimed at eliminating waste and the continual use of resources. It involves reusing, sharing, repairing, refurbishing, remanufacturing, and recycling to create a closed-loop system, minimising resource inputs and waste, pollution, and carbon emissions. Example Make Fashion Circular The Ellen MacArthur Foundation’s work with the fashion industry is … Read more