Name: Gilbert S.

Legaspi Jr Course: MGT 191-B

Year and Program: BS Management IV Date: September 10, 2018

Define the 4 Alternative Types of Foresight:

1. The technology/scientific-driven approach

The first alternative type of foresight which is the technology/scientific-driven approach is a

result of the collaboration between two institutions which both has the potential to create and
invent new technologies and scientific discoveries. Specifically, these institutions are the
universities and businesses. Moreover, the universities are basically the ones that generate the
idea through a formal and informal discussions, conferences and analysis and on the other
hand, businesses are the ones that catapult these ideas in such a way that they could be made
possible. Furthermore, this approach fundamentally express that firms and their innovative
outputs should not be credited only to them but also to universities and scientific institutions
that are their customers and thus providing them with access to having knowledge of cutting-
edge technologies and new technological or scientific outcomes. Lastly in this approach, it is
essentially the firms’ customers, scientists and scientific institutions, that actually providing
the basis of the understanding of their potential to execute the process called
commercialization.

2. The network-oriented approach

From the word itself, the network-oriented approach basically means the involvement of a
network or system of people who have similar goals. Fundamentally, this approach indicates
that a firm does not need to go far or go beyond their organization’s premises as they will be
able to obtain and acquire new knowledge through the use of their own resources. Moreover,
the resources which are referred here as simply the people of the organization. Through a
formal, which means there may be a proper system or process, and through informal, which
implies that it could be a result of their daily interactions, the employees across the
organization could be very helpful in giving insights or new knowledge for the benefit of the
firm. Additionally, it is called a network of employees given the fact that it does not span to
only one silo or department, instead it is a joint effort among all departments in an
organization.

3. The market-driven approach

In contrast with the network-oriented approach, the market-driven approach works from a
different perspective.

4. The gatekeeper approach