Lecture Notes: Future Back Thinking for Better Business Outcomes

Introduction

• Speaker: Victor Mills from the Chamber
• Purpose: Interactive session on reimagining the future for better business outcomes using future back thinking
• Presenters: Eliza, Grant, and Gunnar, business leaders and trainers

What is Future Back Thinking?

• Definition: A strategy that starts with envisioning the future and works backward to determine steps to achieve that future
• Comparison to Present Forward Thinking:
  • Present forward: "Where are we now? Where do we want to be? How do we get there?"
  • Future back: "What does the future look like 10 years from now? What do we need to do now to shape it?"

Importance of Future Back Thinking

• Relevance: Particularly useful in challenging times like the COVID-19 pandemic
• Benefits: Encourages long-term thinking and transformational innovation
• Example: Johnson & Johnson's 2030 vision for a world without disease

Three-Step Playbook for Future Back Thinking

Step 1: Define Possible Future States

• Objective: Envision trends and issues in the next 10 years
• Activity: Breakout groups to discuss and choose two future states

Step 2: Find Insights and Synergies

• Objective: Combine future states to uncover strategic opportunities
• Concept: Future storming - brainstorming about the future
• Activity: Identify one strategic opportunity area (SOA) from synergies

Step 3: Future Back Planning

• Objective: Work backwards from the future to create a practical plan
• Activity: Set milestones every two years from the future to the present
• Example: Discussion on industries becoming "fun" workplaces and affordable customized medicine

Workshop Tools and Techniques

• Zoom Tools: Annotation for interactive engagement
• Breakout Sessions: Participants divided into groups for exercises

Key Takeaways

• Visioning: Leaders must balance short-term and long-term objectives
• Creativity and Imagination: Essential for identifying future opportunities
• Iterative Process: Planning from the future back is not always linear

Conclusion and Next Steps

• Application: Encourage participants to apply future back thinking in their organizations
• Additional Support: Custom-designed programs available with more detailed exploration
• Contact: Reach out to presenters for more information or tailored solutions

Closing Remarks

• Wrap-up by Victor Mills: Thank presenters and participants
• Chamber Support: Encouraged to contact chamber for further help or questions