GOVCON Foresight: A Strategic Foresight Framework for Federal Government Contractors
GOVCON Foresight: A Strategic Foresight Framework for Federal Government Contractors
Michael Hitchcock | 2023
Abstract
Small businesses are essential drivers of technological advancement in the United States. However, small businesses operating in the federal marketplace continue to decline due to increasing cybersecurity requirements and contract consolidation. Although the federal government directs billions of dollars in contract awards to the small business community, small defense contractors often find it difficult to anticipate and prepare for the accelerated changes in federal contracting regulations and the tightening fiscal environment. Small but significant changes in federal regulations disproportionately impact small government contractors. Additionally, the disruptive changes in technology, demographics, and domestic and international politics enhance the level of uncertainty small firms must navigate to ensure success in this extremely regulated market.
GOVCON Foresight provides federal government contractors with tools and methods to systematically assess uncertainty and risk within the federal marketplace. The GOVCON Foresight model integrates scenario planning and business model innovation concepts to stress-test contractors’ current planning assumptions against emerging trends and uncertainties. The one-day workshop consists of three phases: Phase I introduces participants to basic strategic foresight methods, tools, and concepts. Phase II introduces participants to identifying trends and uncertainties. The final phase is focused on business model design and stress testing.
The workshop concludes with a robust discussion centered on the short-term impact on the firm resulting from the critical uncertainties discovered during the stress test. GOVCON foresight encourages participants to understand the impact of policy decisions developing at the agency and department level while closely monitoring emerging trends within the geopolitical environment.
Operating within the federal marketplace requires leaders at all levels to think and plan strategically. The GOVCON foresight framework provides the framework for leaders to understand and act on emerging trends before catastrophic events occur.