Forward-looking external search as a driver for innovation

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In this empirical analysis Sara Polier investigates forward-looking external search strategies and their impact on the value contribution of corporate foresight. Based on a mixed method approach combining a quantitative and qualitative analysis of large, R& D-intensive firms, the findings reveal a general positive influence of different search strategies with respect to the scope (i. e. breadth, depth, and distance) and direction of search (i. e. market, science, and intermediary-driven) on the role of foresight as a driver for innovation. This relationship is found to be mediated by a firm’s exploratory learning capability, which appears to facilitate the effective transfer of external future-related knowledge into valuable outputs.