An exploration of strategy formulation in a Maltese organisational context : an exercise in foresight and innovation

Abstract

The relationship between foresight activity and subsequent strategy formulation in a Maltese organisational context are examined. The study aims to determine the decision-making rationale and its relevance to strategy formulation when considering future-based constructs. Tangible outcomes from the foresight process as well as concrete strategies can be viewed as potential innovations tor future development and implementation. Organisations and sole traders from the arts and culture sector in Maltese participate in the first national Cultural Foresight Workshop to discuss the topic: The Legacy of V.18: Where will the Private Cultural Sector be in 2025? The focus of the workshop is due to the recent designation of Valletta as Capital City of Culture in 2018. The aftermath of this future event serves as a concrete anchor and motivation for the participants in view of foresight activity. The workshop aims to create value of foresight and other strategic thinking tools for the organisations. Horizon scanning is explored as the preliminary assessment of driving factors and trends, serving as a precursor to the main foresight activities. Scenarios are adopted as the central foresight tool for the workshop format. The research project involves an investigation into appropriate scenario development methodology for the selected process framework. Outcomes of the foresight activity are linked to strategy formulation in the final exercise. The planning and execution of the workshop are also fully described and the procedure later evaluated. Lack of creative thinking skills and aversion to risk emerge as prime findings from the research. Networking, collaboration and improved knowledge management are discussed as prime factors in the development of the organisations, and thus the sector. Weaknesses in the workshop framework and the importance of facilitation are determined for future improvement. Feedback from the participants is presented as additional merit for repetition and illustrates personal value gained by engagement in foresight activity.