Entrepreneurship and Foresight: A Review of Certain Conceptual Studies

Foresight is a systematic, continual, and permanent approach that employs a wide range of tested strategies and techniques. This process addresses the future of science and technology, markets, customers, and society, with a primary focus on business intelligence for strategic decision making, sustaining future competitiveness, and strengthening business learning and innovation capabilities. In a nutshell, foresight's objective is to propel the business forward. On the other hand, entrepreneurship is an art of investigating future principles, revealing a close connection between foresight and theories of creation and implementation in entrepreneurship. Foresight is critical in the process of establishing, growing, and consolidating entrepreneurial enterprises. Thus, while introducing and describing the concept of foresight, as well as the psychological foundations of foresight and entrepreneurial decision making, this paper discusses foresight in two distinct stages of business evolution (before and after the establishment of the business). The article then discusses foresight in three distinct stages of business evolution in order to present a distancing argument (before, during, and after the establishment of the business).