Strategic Foresight and Cost Effective Leadership in Organizations: A Case Study of the UAE Manufacturing Sector
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Date
2023-06
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The British University in Dubai (BUiD)
Abstract
The current thesis sought to critically investigate the not-so-common relationship between strategic foresight and costs saving leadership practices in manufacturing organizations in the UAE. The lack of previous studies scrutinizing this relationship and the research’s hypothesis of the possibility of a relationship between the two constructs provided impulse for the study. The aim was to justify whether there is a relationship between strategic foresight and cost savings in manufacturing organizations and use this knowledge, if affirmative, to come forth with a framework for the effective application of strategic foresight on costs savings efforts in manufacturing companies in UAE. The methodological approach adopted for the research was deductive based on the positivist philosophy, using a survey questionnaire to collect quantitative data from a sample of the population.
Analysis of the data gathered was conducted using structural equation modeling (SEM) critical path analysis via SPSS AMOS v.26. The results from the critical path analysis of the structural model revealed a strong relationship between strategic foresight and costs savings approaches. This confirmed the hypothesis of the study that there is a relationship between strategic foresight and cost saving leadership efforts in manufacturing organizations. Other relationships between sub-constructs in the study were also tested and the study was able to culminate with the development of a model for the integrated successful application for strategic foresight on cost savings efforts in the manufacturing sector in the UAE. A framework for the effective application of strategic framework on cost saving efforts in manufacturing companies in the UAE was developed that would assist manufacturing companies in effectively managing their costs through the application of strategic foresight tools. The broad base nature of the research was identified as one of its major limitations and recommendations were made that future studies should focus efforts on one manufacturing organization while actually studying the quanta of costs savings that can be arrived at through application of strategic foresight.
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Keywords
strategic foresight, effective leadership, United Arab Emirates (UAE), manufacturing sector, cost savings, strategic management