TY - JOUR T1 - Using Foresight to Shape Future Expectations in Circular Economy SMEs JF - Technology Innovation Management Review Y1 - 2020 A1 - Anne-Mari Järvenpää A1 - Iivari Kunttu A1 - Mikko Mäntyneva KW - circular economy KW - foresight KW - innovation KW - PESTEL KW - SMEs AB - Future foresight in business plays a central role in firms’ strategic planning, innovation, and product development activities. This is particularly true for the firms that are operating in rapidly changing business environments, in which a firm may obtain significant competitive advantages by coming up with new innovations and customer solutions. This article studies future foresight mechanisms and practices in innovative SMEs operating in circular economy–related industries. The future demands set by legislation and regulation, consumer buying behaviour, and environmental consciousness, all have a strong impact on an SME’s future horizon, in which there may be prosperous business opportunities as well as several challenges. This paper presents a qualitative case study conducted on seven Finnish circular economy-oriented SMEs. The case study reveals that the SMEs in this industrial sector are quite active in foresight activities, and that they have developed a variety of practices for effectively utilizing foresight information in their product development and strategic planning activities. PB - Talent First Network CY - Ottawa VL - 10 UR - timreview.ca/article/1374 IS - 7 U1 - University of Vaasa Anne-Mari Järvenpää holds a MEng degree in Industrial Service Business (2010) and a BEng degree in Information Technology (2005) from the Häme University of Applied Sciences (HAMK), Finland. Currently, she is studying a PhD degree in Industrial Management at the University of Vaasa, Finland. Her research topic relates to the circular economy and industrial symbiosis. She is working as a senior lecturer at HAMK on the Degree Programme in Information and Communication Technology, Bioeconomy. U2 - HAMK Dr. Iivari Kunttu holds a PhD degree in Information Technology from the Tampere University of Technology (TUT; 2005) and a PhD degree in Economics (management) from the University of Vaasa, Finland (2017). Currently he acts as Principal Research Scientist in HAMK. During 2012-2017 he held an assistant professor position in the Department of Management of the University of Vaasa. He has also held several R&D manager and R&D process development specialist positions in the Nokia Corporation and has held project manager positions in TUT. His current research interests include R&D and innovation management, data analysis, and business development, as well as digital services. His works have been published in such international journals as Pattern Recognition Letters, Machine Vision Applications, Optical Engineering, Journal of Telemedicine and Telecare, Annals of Long-term Care, Technovation, Industry and Innovation, and Technology Innovation Management Review. U3 - HAMK Dr. Mikko Mäntyneva holds a PhD degree in Strategic Management from TUT (2004). Currently he is the Principal Research Scientist at HAMK. His research focuses on smart services, innovation management, knowledge management, and customer relationship management. He has authored several scientific articles as well as six books on various management topics. ER -