Reimagining Strategic Foresight through the Lens of Digital Technology Adoption

Abstract

Purpose: This study aims to conceptualize the role of emerging digital technologies—Artificial Intelligence (AI), Internet of Things (IoT), Big Data Analytics (BDA), Blockchain, and Social Media Applications in developing strategic foresight among small and medium-sized enterprises (SMEs). In an increasingly volatile and technology-driven business environment, the study highlights how the adoption of these technologies enhances firms’ ability to anticipate, interpret, and act upon future changes. Methodology: The paper adopts a conceptual and theoretical approach grounded in Dynamic Capability Theory (DCT). It synthesizes current literature, integrates findings from previous empirical works, and develops a conceptual framework linking digital technology adoption to strategic foresight dimensions, namely environmental scanning, strategic choice capability, and integration capability. The proposed framework will be validated through a mixed-method design involving qualitative interviews with SME managers and quantitative analysis using Smart PLS and NVivo for triangulation. Findings: The conceptual model proposes that advanced digital technologies collectively enhance SMEs’ strategic foresight. Specifically, AI and BDA provide predictive insights; IoT enhances real-time situational awareness; blockchain ensures data transparency and trust; and social media platforms strengthen environmental scanning and stakeholder intelligence. Together, these technologies enable SMEs to move from reactive to proactive strategies, fostering innovation, adaptability, and resilience. Limitations: As a conceptual study, empirical validation is yet to be conducted. Future research should test the proposed relationships across different sectors and regions. Moreover, contextual factors such as digital maturity, regulatory environment, and organizational culture may moderate the effects of technology adoption on foresight. Practical Implications: The study offers actionable insights for SME policymakers, managers, and technology developers. It suggests that structured foresight workshops, scenario planning, and trend monitoring can be enhanced through digital technologies. Policymakers can use the framework to guide SME digital transformation programs that emphasize long-term strategic agility instead of short-term survival. Originality/Value: This study extends Dynamic Capability Theory by positioning digital technology adoption as a critical enabler of strategic foresight in SMEs. It bridges a theoretical gap by explaining how multiple emerging technologies interact to build future-oriented decision-making capabilities, thus advancing the discourse on digital transformation and foresight integration in resource-constrained firms.