How do I undertake the horizon scan?
Read our introductory article to familiarise yourself with the methodology and terms.
- HORIZON SCANNING IN PRACTICE.
- DEFINE YOUR TOPIC.
- BROADEN YOUR VIEW.
- SCAN THE HORIZON.
- ASSESS AND PRIORITISE PHENOMENA WITH YOUR TEAM.
- ANSWER YOUR RESEARCH QUESTION.
- FORMULATE ACTION STEPS.
What is horizon scanning method?
Horizon scanning is “a technique for detecting early signs of potentially important developments through a systematic examination of potential threats and opportunities, with emphasis on new technology and its effects on the issue at hand” (OECD, n.d.a).
What is horizon scanning compliance?
Horizon scanning is a vital component to a successful regulatory change management system. It transforms your ability to track and monitor regulatory change (new regulations, legislations, guidance and updates from around the world) and link it to your compliance obligations.
What is horizon scanning risk?
Horizon Scanning is not trying to predict the future but rather, as the Institute of Risk Management defines it: Horizon Scanning is a systematic examination of information to identify potential threats, risks, emerging issues, and opportunities allowing for better preparedness and to support decision making.
What is horizon scanning invasive species?
CABI has announced the launch of its invasive species Horizon Scanning Tool (beta), a decision support aid to help users identify potential invasive species threats to a country, state or province.
What is regulatory scanning?
Regulatory Scanning means scanning of all relevant data with respect to all Account Parties (including names, addresses and other relevant identifying data as appropriate) as required by OFAC or any other Bureau Laws.
What is the difference between forecast and foresight?
Foresight does not predict the future, but rather explores the range of plausible futures that may emerge. It’s one of the best tools to support open policy making. Forecasting is the process of making predictions about the future, based on past and present data and the analysis of trends.
What are foresight tools?
Strategic foresight tools complement those of prediction and forecasting by allowing us to appreciate emerging, complex, and uncertain developments which could be surprising and significant in the future.
WHAT IS Thomson Reuters regulatory intelligence?
Thomson Reuters® Regulatory Intelligence is a market-leading solution that empowers you to make well-informed decisions to confidently manage regulatory risk, while providing the tools to make proactive decisions and action change within your organization.
What is regulatory change?
Regulatory change management is the process of anticipating, capturing and implementing regulatory changes across financial services. Regulatory changes come in different shapes and sizes – from in-force, black-letter laws to softer guidance, down to blogs and speeches.
What are foresight methods?
Foresight methodologies seek to gather data and make sense of it so that people can think in different and new ways about the future. That data might be collected from humans or from the analysis of documents and artefacts, or both. The data might be analysed using qualitative or quantitative techniques, or both.
How do you increase foresight?
Here are three ways you can start to learn the skill of foresight:
- Question your assumptions and biases. Make a conscious effort to notice your own biases — question your gut reaction to news, ideas, information and people.
- Scan from the outside in.
- Be provocative.
What is foresight methodology?
How can I develop foresight?
What is the difference between regulatory and compliance?
Compliance risk is the potential that you will be deemed to have violated a law or regulation. Regulatory risk is a potential that changes to laws, regulations or interpretations will cause you losses.
What is a regulatory risk?
Regulatory Risk is generally defined as the risk of having the ‘licence to operate’ withdrawn by a regulator, or having conditions applied (retrospectively or prospectively) that adversely impact the economic value of an enterprise.
What is future thinking?
Futures Thinking is a cross-disciplinary approach to considering potential futures through the exploration of trends and drivers for change that may lead to different future scenarios. This includes evaluating what scenarios are possible, probable and preferable futures.
What is horizon scanning or future thinking?
In some cases, for example, the overall process of structured reflection on the future is referred to as “horizon scanning” ( UK Government Office for Science, 2013 ), while in others it is termed “foresight” or “future (s) thinking” ( FAO, 2013 ).
What is the horizon scanning programme team?
To support strategic long-term thinking in government, GOS collaborates with the Cabinet Office through the Horizon Scanning Programme Team (HSPT). The HSPT coordinates Futures work across government to integrate Futures into policymaking.
What are Futures Foresight and horizon scanning?
What are Futures, Foresight and Horizon Scanning? ‘Futures’, or Futures studies, refers to different approaches to thinking about the future and exploring factors that could give rise to possible and probable future characteristics, events and behaviours.
What is the value of horizon scanning?
As mentioned before, horizon scanning is an evidence-based foresight method. It’s not about predicting the future – the value of horizon scanning is to display new perspectives, challenge assumptions and provide more options.