The value produced in lending strategic problems as live cases in futures education. (April 2023)

• Record Type: Journal Article
• Authors: Bhatti, Yasser; Ramirez, Rafael; Athanasopoulou, Andromachi
• Is Part Of: Futures. Volume 148(2023)
• Publication Date: 2023-04
• Subjects: Scenario planning -- Live case -- Futures education -- Future of education -- Rigour and relevance -- Business schools; Economic forecasting -- Periodicals; Technological forecasting -- Periodicals; Economic policy -- Periodicals; Prévision économique -- Périodiques; Prévision technologique -- Périodiques; Politique économique -- Périodiques; Economic forecasting; Economic policy; Technological forecasting; Periodicals; Electronic journals; 330.0112
• DOI: 10.1016/j.futures.2023.103132
• Languages: English
• ISSNs: 0016-3287

Abstract

Abstract: Strategists often employ consultants to gain insights from futures thinking. An alternative source is the lending of challenges to executive education participants. Here we assess the value derived by organisations who lend strategic challenges as live cases to business schools for the purpose of teaching scenario planning. We draw on data from 22 live cases spanning almost a decade. Lending organisations reap benefits commensurate to those expected of scenario planning in a cost-effective manner and over a short time-span. However, given the value drawn is dependent on critical reflection on behalf of stakeholders, it is important to set clear expectations and carefully manage the pedagogical engagement. This paper contributes to the literatures on rigour and relevance of knowledge co-production for futures education and the future of education. It offers practical guidance on how to improve the effectiveness of lending live cases in executive education. Highlights: The live case can contribute to futures education and to the future of education. The values drawn are commensurate to those expected of scenario planning. Cost-savings and quick outputs are also two important benefits. However, the value drawn depends on critical reflection on behalf of stakeholders. Business schools have added responsibilities when managing these engagements.