Using Foresight to Shape Future Expectations in Circular Economy SMEs

Abstract

solutions. This article studies future foresight mechanisms and practices in innovative SMEs operating in circular economy–related industries. The future demands set by legislation and regulation, consumer buying behaviour, and environmental consciousness, all have a strong impact on an SME’s future horizon, in which there may be prosperous business opportunities as well as several challenges. This paper presents a qualitative case study conducted on seven Finnish circular economy-oriented SMEs. The case study reveals that the SMEs in this industrial sector are quite active in foresight activities, and that they have developed a variety of practices for effectively utilizing foresight information in their product development and strategic planning activities. The best way to keep something bad from happening is to see it ahead of time ... and you can't see it if you refuse to face the possibility.