The main goal of this paper is to explore whether and how strategic planning and foresight
approaches (vs organizational flexibility and adaptive approaches) enhance the
competitive advantages of firms. Despite the interest on strategic foresight, we still know
little about its concrete impact and value. Thus, there is a great opportunity to develop a
more complete and rich understanding of strategic decision making under uncertainty. We
seek to extend current theory and create new insights by exploring the effects of foresight
efforts in two large corporations that recently faced huge discontinuities. We ask:whether
and how do strategic planning and foresight-based approaches help decision-makers cope
with changes in the business environment? Under which circumstances are flexible
approaches more helpful instead?