Vision

Foresight is a fundamental quality for entrepreneurs who are preparing to realise their creative business concepts. This ability enables them to look beyond the current context and consider the long-term goals and effects of their decisions. Foresight involves a deep understanding of complex interrelationships and the ability to make balanced decisions that go far beyond the obvious.

Particularly for the criteria of technological and economic obsolescence, the strength to take an interest in long-term developments is especially important.

Key aspects of foresight for entrepreneurs:

1. Complex thinking: Entrepreneurs must be able to recognise and weigh up different perspectives (lines of sight in learning briefing for project 2).
   
   
2. Advice and mentorship: Farsighted entrepreneurs are often valuable mentors and advisors. They use their knowledge and experience to provide guidance to others, which in turn strengthens their role in the entrepreneurial community.
   
   
3. Lifestyle and ethics: Farsightedness enables entrepreneurs to see their ventures not only as a business, but also in the context of a broader, meaningful life goal. This often leads to more ethical and sustainable business practices.

The Stanford Encyclopedia of Philosophy discusses how practical wisdom, a concept closely related to foresight, influences decision-making. Practical wisdom involves the ability to strike the right balance in actions and is particularly relevant in leadership and entrepreneurship.

One relevant work is Good Business: Leadership, Flow, and the Making of Meaning by Mihaly Csikszentmihalyi, who examines how leaders use foresight in their decision-making to create not only profitable but also fulfilling and ethically sound ventures.

 

Resources:

• Csikszentmihalyi, Mihaly. (2003). Good Business: Leadership, Flow, and the Making of Meaning. Viking.

• Stanford Encyclopedia of Philosophy, "Practical Wisdom"