Attaining this critical skill often comes through the use of foresight. This does not mean guessing about the future or forecasting current trends. Foresight means identifying relevant opportunities that are emerging and strategizing how to make the most of them today.

Agilent Technologies understands the critical nature of foresight and how it can positively impact the organization, product offerings and customer experiences. “We have to anticipate and lead technology and market waves,” said Darlene Solomon, Agilent’s chief technology officer. “We need to pay attention to trends so that, with the right opportunities on our radar screen, we can make the best possible investment decisions and trade-offs.”

This vital skill impacts almost every facet of leadership. For example, leaders with foresight are able to make better decisions because they act while they still have multiple options. They keep themselves open to future alternatives and can take action when needed.

Similarly, leaders can engage in more effective strategic planning by leveraging foresight. When this occurs, they can accurately construct success scenarios and validate their plausibility in advance because they look ahead in the right manner. This eliminates tunnel vision and allows them to take advantage of multiple opportunities that may arise.

“In Agilent, we must determine our R&D investment priorities well ahead of clear market demand,” Solomon said. ”That’s the only way we can achieve technology breakthroughs and offer the right products at the right time for emerging market needs.”

The Right Balance
While foresight is a critical leadership skill to possess, it is not always the easiest to hone. People can get stuck in the past, causing them to aim low today to avoid repeating difficulties. In other cases, leaders run the risk of fixating on the present, simply projecting current consumer demand, revenue growth or labor needs from this quarter into the next without clear thoughts about the future. Others can look so far into the future that they become disconnected from reality.