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  4. The potential of futures literacy for impact-oriented business schools
 
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2023
Journal Article
Title

The potential of futures literacy for impact-oriented business schools

Abstract
Current marketplace narratives increasingly demand a move from shareholder towards stakeholder primacy and responsible capitalism yielding social value creation. In parallel, the demand for entrepreneurial value creation at higher education institutions (including, but not limited to business schools) continues to grow. The intersection of these two demands, however, engenders critical tensions. While social value creation emphasizes stakeholder returns and a long-term perspective, entrepreneurial value creation revolves around investment returns and short-term agility. As a result, business schools have been grappling to find ways to incorporate a broader, holistic view on value creation into their activities. We bring together future studies and management scholars and scholarship to explore futures literacy as a potentially instrumental capability for business schools. Our investigation suggests that an interdisciplinary approach is particularly promising since both management and futures studies investigate how to engage with uncertainty and chart more desirable futures. We illustrate the instrumental role of futures literacy and foresight with an educational program built at the intersection of entrepreneurial and social value creation and with anticipatory practices at its core. We suggest that anticipatory practices are currently underutilized in business schools’ curricula, outreach activities, and strategy making, and may be necessary to shape productive and constructive business schools of the future.
Author(s)
Spanjol, Jelena
Ludwig-Maximilians-Universität München -LMU-, Institut für Innovation Management
Rosa, Aaron  
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Schirrmeister, Elna  orcid-logo
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Dahl, Philipp
Ludwig-Maximilians-Universität -LMU-, Innovation & Entrepreneurship Center
Domnik, Dominik
Ludwig-Maximilians-Universität -LMU-, Innovation & Entrepreneurship Center
Lindner, Max
Ludwig-Maximilians-Universität München -LMU-, Institut für Innovation Management
Cruz, Marcelo De La
Ludwig-Maximilians-Universität München -LMU-, Institut für Innovation Management
Kuhlmann, Jan-Frederic
Ludwig-Maximilians-Universität München -LMU-, Institut für Innovation Management
Journal
Futures  
Open Access
DOI
10.1016/j.futures.2022.103084
10.24406/publica-733
File(s)
Potential_futures_literacy_impact-oriented_business_schools.pdf (1.25 MB)
Rights
CC BY-NC-ND 4.0: Creative Commons Attribution-NonCommercial-NoDerivatives
Language
English
Fraunhofer-Institut für System- und Innovationsforschung ISI  
Keyword(s)
  • Anticipatory practices

  • Business schools

  • Entrepreneurial value creation

  • Foresight

  • Futures literacy

  • Startups

  • Social value creation

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