To effectively envision future business directions, engage your team in scenario planning that balances optimism and pessimism, assigning groups to explore both best-case and worst-case outcomes, ultimately leading to a more calibrated and research-driven strategy.

Businesses should prioritize internal trendspotting and innovation by leveraging their marketing departments, fostering a culture of discovery, and inviting external provocateurs to challenge conventional thinking, ultimately positioning marketing as a strategic driver for future growth.

Rita McGrath advises business leaders to identify strategic inflection points and adopt eight best practices, including engaging with customers, incentivizing forward-thinking, confronting inconvenient truths, and observing emerging trends to enhance decision-making and reduce reliance on luck.

To thrive in today’s business landscape, companies must adapt their models to digital trends, as demonstrated by Adobe’s pivot to cloud services and Nike’s evolution towards direct-to-consumer sales, highlighting the importance of recognizing market shifts and adjusting strategies accordingly.

FutureThink CEO Lisa Bodell outlines five essential characteristics of innovative companies—strategic imagination, smart risk-taking, resiliency, agility, and future focus—explaining how to identify and foster these traits in team building.