Influence of Strategic Foresight Capabilities on Performance of Banks: Evidence from Baltic States

Sudhindra Bhat; Dr. Sahil Arora

Volume : VII, Issue : X, October - 2018

Influence of Strategic Foresight Capabilities on Performance of Banks: Evidence from Baltic States

Sudhindra Bhat, Dr. Sahil Arora

Abstract :

The modern business organizations are increasingly paying attention toward strategic foresight. Strategic foresight denotes the methods, the actors, the process and the system needed to enhance the competitive position of a company. The aim of this paper was to study the influence of strategic foresight capabilities on the performance of banks evidence from Baltic States. Data from 150 respondents was analyzed using structural equation modeling (SEM). There are five strategic foresight dimensions such as information scope, method usage, people, formal organization and culture are identified with the help of factor analysis. The results revealed that strategic foresight capabilities viz., information scope, method usage, people and formal organization strongly influence on the performance of banks in the Baltic States. One strategic foresight capability culture does not influence the performance of banks.