Exploring the application of strategic foresight in South African Mines : focusing on the platinum mines

Abstract

The purpose of this research was to investigate the extent to which strategic foresight was used by business leaders with a focus on the South African Platinum Mining Industry. The motivation for the research was the reports of prevailing conditions in the mining sector, which brought into question the level at which strategic foresight was used in planning. This raised a further question of whether academic research of the past 50 years was perceived as valuable by organisational leaders. Because strategic foresight is a managerial tool that, among other things, takes into consideration the value of employees and other stakeholders, the researcher interviewed corporate Heads of Strategy, Business Development and Sustainability, and Risk, Assurance and Sustainability. Finance, Risk and Operations Managers in the operations were also interviewed. Conclusions reached in this research were that use of strategic foresight, as explained by Rohrbeck & Gemünden, (2008), Slaughter, (1995) and Godet, (2008), seemed to be limited in the area of focus which was the South African Platinum Mining sector. This was due to the fact that all participating organisations seemed to have an idea of what it was but, either had no resources to properly implement it; lacked the understanding of the concepts; or simply felt that parts of the process, rather than the whole process, would be sufficient to guarantee success.