Honda Foresight

I was doing some research the other day on Honda, and I found the following fascinating piece of information:

In a Business Week article from 1992, the head of engine development for Honda is quoted as saying, "We don't have much time," referring to the need to develop new, low-emission engine technology.

His assessment of the future market (I'm paraphrasing): We have about 20 years more with gasoline before we will need to have alternative fuel technologies in place.

Yes, the article was from 1992. It makes those guys at Honda look pretty darn smart.

What do you have to do to see the future that clearly? It's probably not 'planning,' at least not planning in the conventional sense. Scenario planning could be more useful - that is, the process of looking at multiple futures, and developing strategies that are effective for many different sets of circumstances.

It also helps to be working an organizational culture that takes the long view, and invests according to real priorities with patient capital.

Honda is not a perfect company, but this small example of thinking ahead is nevertheless impressive for its accuracy, and for its strategic importance. I wonder what they're expecting for 2032? Robots, for sure. Flying cars too?

"Honda Sets Its Sights on a Different Checkered Flag," Business Week, August 19, 1992, p 45.