Future-oriented innovations are a range of products as well as techniques, companies and businesses which can enhance the lives of individuals. They can fine-tune sectors such as healthcare and space technology or enhance a company’s ability to compete. Producing them requires lots of work from many high tech technique stakeholder, a paradigm change and an epistemic view that is significant. It is also essential for a firm’s command line and personnel to be open to learn from long term trends and be able to hear them.
Fear of the unknown, resistance towards change and a tendency to focus only on the short-term gain are the most frequent obstacles that hinder future-oriented innovation. In an organization, these barriers are overcome by having the development of a mindset that is based on growth and an environment that encourages innovation. Employees will also feel motivated to work towards the future goals. This is often known as phronesis which is the belief that individuals require a reason to make risky decisions within their work and it can result in higher retention rates for employees in companies with a future-oriented attitude.
There is increasing evidence that innovation ecosystems could benefit from a stronger grasp of the future possibilities. This could be achieved by integrating foresight into the innovation ecosystem and strengthening the structural connections between research programs and strategic planning processes, and increasing the overall understanding of the possibilities by incorporating different perspectives into dialog. The foresight wheel model is a methodological construct that can respond to these needs in a way that is both effective and scalable. This article introduces a fresh method for developing future-oriented innovations.
