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Hyundai Motor Group and Oxford's Foresight Centre will shape long term vision and strategy for business

Published

The Oxford-Hyundai Motor Group Foresight Centre was yesterday launched at Oxford’s historic Convocation House.

The agreement marks a new partnership between Hyundai Motor Group and Saïd Business School at the University of Oxford. The Foresight Centre, based at Oxford Saïd, has been established to explore and test methods of foresight research. It will conduct innovative research and facilitate interdisciplinary conversations between government agencies, academia and industry experts to develop long-term insights into future societal trends. 

Oxford Saïd is renowned for its Oxford Scenario Planning Approach, with strong expertise in reshaping industry perspectives and conceiving long-term corporate directions.

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Professor Soumitra Dutta, Dean of Oxford Saïd, said: ‘This is an exciting and important partnership with the Hyundai Motor Group, that will see our world-leading research and academics shape the future of business through values-based research. Hyundai Motor Group’s long-term vision to pursue a better future for humanity very much aligns with our School’s values, and we look forward to a fruitful and mutually enriching collaboration.’ 

Attendees from Hyundai Motor Group included Gyun Kim, Executive Vice President of HMG Business Intelligence Institute, and Heung-Soo Kim, Executive Vice President of Global Strategy Office. From Oxford Saïd, attendees included Soumitra, Deputy Dean Jonathan Reynolds, Professor Rafael Ramirez, Director of the Oxford Scenarios Programme, Professor Trudi Lang, Associate Professor in Management Practice, and other school officials. 

This is an exciting and important partnership with the Hyundai Motor Group

Professor Soumitra Dutta

Dean of Saïd Business School

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‘The automotive industry is undergoing a paradigm shift and significant changes in business environments, leading to unprecedented uncertainty,’ said Gyun Kim, Executive Vice President and Head of Hyundai Motor Group Business Intelligence Institute, speaking at the event. ‘In such times, it is crucial for companies to move away from an experience-based approach and adopt a long-term perspective to identify large-scale future trends. We expect that the Foresight Centre will play a significant role in cultivating a multifaceted and comprehensive perspective on the future within organisations.’

Heung-Soo Kim, Executive Vice President and Head of Global Strategy Office at Hyundai Motor Group also added, ‘Hyundai Motor Group will proactively set out its ideal direction for future generations in line with our ‘Together for a Better Future’ vision. We are focused on cultivating unique capabilities to shape the future across various industries, reinforcing our role as a first mover in the global market.’

 

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Specialised programmes, such as the Oxford Scenarios Programme and Oxford Futures Forum, will be implemented to further the Centre’s research and  insights will be shared with the Group and the wider world, ensuring strategic alignment and forward-thinking leadership. 

Furthermore, the Group will share findings from the Centre across its open innovation network locations, including the United States, China, India, Germany, and Singapore. The Group hopes that insights from the Centre will contribute to the expansion of its ecosystems in realising its envisioned future.

The Foresight Centre will be directed by Professor Rafael Ramirez, widely respected for his expertise in future scenario planning, and co-directed by Professor Trudi Lang, who brings extensive knowledge and experience in strategic foresight. 

 

Professor Ramirez previously chaired the Global Agenda Council at the World Economic Forum and provided strategic future scenario planning counsel to industry leaders, such as Royal Dutch Shell. Professor Lang has held strategic foresight positions at prominent global organisations, such as the World Economic Forum and the OECD Secretariat.

Through this collaboration with Oxford Saïd, research and study will provide insights into the rapidly changing global landscape, in particular in respect of technological innovation, which will help provide Hyundai with a foundation for actively designing and realising its future goals.