As the tendency to defer to short-term focus has been seen to hinder business growth and innovation, the ‘tyranny of now’ concept is increasingly influencing organisational decision-making and planning.  To overcome this, organisations must adopt futures thinking—a strategic approach that encourages looking beyond the immediate horizon and exploring various possible futures.

When market uncertainty and volatility are perceived to intensify, the sense of urgency and inclination towards short-termism inevitably heighten. However, a viable method for navigating this uncertainty emerges with the adoption of a ‘growth mindset’, where market changes are considered over longer timescales.  

In this article, we explore how futures thinking can help organisations overcome the limitations of the present, ensuring they are better equipped to face the challenges and opportunities that lie ahead. Inspired by Carol Dweck's TEDxTalk in which she discusses the growth mindset, we outline how embracing it can transform organisational culture. We also provide practical strategies for developing a culture of futures thinking that empowers businesses to overcome short-term biases and drive sustainable success. 

The impact of an immediate results culture 

The recent BJSS and SPARCK report, Embracing Tomorrow: Insights for Anticipating and Thriving in an Uncertain Future, exposes a notable lack of futureproofing in UK businesses. Based on a survey of 101 C-suite executives, the report reveals that while 86% express confidence in their organisation’s ability to implement foresight and strategies, 50% believe this ability won’t be enough for their organisation to survive the next decade. 

It’s a contradiction which underscores the struggle leaders face in balancing the urgent demands of the present with the uncertainties of the future. The finding also indicates that leaders are likely to be much more comfortable basing their strategies on known trends and patterns, such as market demand or consumer behaviour, than they are predicting and planning for what the coming years could hold. 

As working cultures are typically focused on immediate results, it becomes commonplace for leaders to neglect spending time anticipating the future with forward-looking planning sessions. Yet, in the face of uncertainty, it's crucial for businesses to maintain a comprehensive long-term vision. Apart from preventing a reactive posture from embedding, futures thinking ensures strategies don’t need to be constantly adjusted to navigate unforeseen disruptions.    

Contrasting 'Tyranny of Now' with 'The Power of Yet' 

In referring to the 'tyranny of now,' psychologist Carol Dweck describes a mindset that’s focused almost single-mindedly on the present. It’s a mindset that stands in contrast to the concept of 'the power of yet,' which instead encourages viewing challenges as opportunities for growth, fostering resilience, and promoting a belief in the potential for improvement.  

The ‘tyranny of now’ immerses business leaders in immediate concerns that consume their time and leave limited bandwidth for contemplating what might lie beyond the horizon. For organisations to seize opportunities for future growth, it’s vital to cultivate a growth mindset that’s open to future change and excited by what could lie in the ‘yet’.   

In a world increasingly characterised by rapid social and technological upheaval, business leaders must shift their gaze beyond the immediate. They must learn to identify emerging trends, competitor activities, and changes to the corporate environment. Perhaps most importantly, they must recognise that what is beyond our current imagining has the power to shape the future.  

Practical strategies for developing a futures thinking culture

Foster anticipatory awareness: Developing a futures thinking culture begins with fostering anticipatory awareness within the organisation and involves scanning for weak signals, emerging trends, and potential disruptions that could impact the business.  

By creating a dedicated futures intelligence team or integrating these practices into existing strategic planning processes, organisations can stay ahead of potential changes and better prepare for various scenarios. 

Encourage imagination and creativity: A key aspect of futures thinking is the ability to imagine and explore a range of possible futures. Organisations should encourage imaginative thinking by hosting workshops, brainstorming sessions, and scenario planning exercises.  

These activities can help teams to think beyond the immediate challenges and consider long-term possibilities, helping to foster a culture of innovation and adaptability. 

Integrate diverse perspectives: Effective futures thinking requires the integration of diverse perspectives and can be achieved by involving a wide range of stakeholders, including employees from different departments, external experts, and even customers.  

In considering multiple viewpoints, organisations can develop more robust and comprehensive future scenarios, ensuring that all potential risks and opportunities are accounted for. 

Build strategic flexibility: Organisations should focus on building strategic flexibility to adapt to changing circumstances by developing flexible strategies that can be adjusted as new information and trends emerge.  

Businesses can better navigate uncertainty and remain competitive within evolving market environments by creating a culture that values adaptability and resilience. 

Invest in futures education and training: To embed futures thinking into the organisational culture, it’s essential to invest in education and training, including workshops, courses, and seminars on strategic foresight, scenario planning, and other futures thinking methodologies.  

Equipping employees with the necessary skills and knowledge in this way means organisations can enhance their capacity to anticipate and respond to future challenges effectively. 

Leverage technology and data analytics: Leveraging advanced technologies and data analytics is crucial for effective futures thinking. Organisations should invest in tools and platforms that enable real-time data analysis, trend monitoring, and scenario modelling.  

By leveraging these technologies, businesses can gain deeper insights into emerging trends and make more informed strategic decisions. 

Embracing a growth mindset 

To overcome the 'tyranny of now,' organisations must adopt a long-term perspective in their strategic planning by setting long-term goals and milestones that align with the organisation's vision and mission.  

By prioritising the following long-term objectives over short-term gains, businesses can ensure sustainable growth and success: 

Promote continuous learning and development: A growth mindset requires a commitment to continuous learning and development. Organisations should encourage employees to pursue professional development opportunities, stay updated with industry trends, and acquire new skills. This ongoing learning process enables teams to adapt to changing circumstances and remain competitive in the long run. 

Foster a culture of experimentation: Encouraging a culture of experimentation and innovation is essential for embracing a growth mindset. Organisations should create an environment where employees feel safe to take risks, experiment with new ideas, and learn from failures. This approach fosters creativity and drives continuous improvement, enabling businesses to stay ahead of the curve. 

Align incentives with long-term goals: To support a growth mindset, organisations should align incentives and rewards with long-term goals. This can include performance metrics that focus on innovation, learning, and long-term impact rather than just short-term achievements. By recognising and rewarding efforts that contribute to the organisation's long-term vision, businesses can motivate employees to adopt a growth-oriented approach. 

Developing futures thinking strategies with BJSS 

By implementing the practical strategies outlined in this blog, organisations can develop a culture of futures thinking and embrace a growth mindset, enabling them to navigate uncertainty, drive innovation, and achieve sustainable success. 

Leveraging strategic resources exclusively in the short term serves only to stifle the opportunities afforded by exploring the future and anticipating the business implications. Futures thinking helps companies avoid falling into this cycle of short-termism and reactivity and move to a place where the future isn’t just predicted; it’s planned for.  

The report, Embracing Tomorrow: Insights for Anticipating and Thriving in an Uncertain Future, explores ways organisations can avoid the constricted view of the now and raise anticipatory awareness of the longer term, setting them up for future success.  

To learn more about BJSS' Futures Thinkings offerings, click here