An integrated approach for the evaluation of corporate foresight: the example of a Russian corporation

Purpose The purpose of this study is to develop an integrated approach to evaluating corporate foresight (CF) studies at all stages of its implementation and to test this approach using the example of a Russian state-owned corporation. Design/methodology/approach The use of foresight by companies as a part of their strategic activities is growing but still rather limited. To increase the effectiveness of foresight at the corporate level and ensure its justification, special approaches and criteria for its evaluation should be developed. To develop the approach to evaluation of CF which would be useful at all stages of foresight realization, at first, the authors focused the authors’ attention on identification of main challenges, problem and barriers, which arise during foresight process on the one hand, and exploring success factors and lessons learnt from different case studies on the other hand. On the basis of this literature analysis, the authors have formed a long list of evaluation criteria, which reflect accumulated experience in the field and all-important aspects to make foresight project successful and effective. On the next step, the authors related these criteria with stages of foresight realization and evaluation category. For pilot testing of this methodology, the authors used a case of Russian state-owned corporation. Findings This paper has presented an integrated approach to the evaluation of CF projects. The logic of the evaluation process of CF at all stages of its implementation is proposed; key evaluation topics (concept, objectives, project team, design of the project, project methodology, stakeholders, implementation, resources, results and its dissemination, effects and impact and barriers) are identified, and the corresponding sets of criteria are formed. Originality/value The originality of the work lies in using a wide experience of national foresight studies evaluation for corporations. The suggested approach could be used as a framework for CF evaluation. It was tested on the Russian state-owned company RussX.