Using Strategic Foresight to Lead in a Gentrifying Business Culture

Data has demonstrated that affluent suburban whites are returning to inner cities, which low-income minorities have occupied for decades. This return is increasing investment and development by small and large businesses seeking to meet the needs of this new demographic. The data has also demonstrated the conflict that these businesses are experiencing from long-time residents, community leaders, and activists. This article will give leaders a strategic approach to addressing conflict before, during, and after the gentrification process. This article will discuss the theory of strategic foresight and its importance to leaders confronting gentrification. The article will demonstrate strategic foresight’s advantages to leaders and their organizations and how predictive and adaptive leaders can better embrace the future and changes. Strategic foresight assists leaders in embracing change and contemplating the effects of developing trends so they are well-prepared for market shifts, threats, and opportunities . While research has demonstrated the adverse effects accompanying gentrification, strategic foresight can assist leaders in discovering the opportunities these shifts can bring and how to gain the support and acceptance of others effectively.