Future-oriented innovations encompass innovative products, firms and technologies that can improve people’s lives. They can boost sectors like healthcare and space technology, or improve the competitiveness of a business. To make these, it requires a lot of work from various high tech technique stakeholders. It also requires a paradigm shift as well as an epistemic awareness. It is also crucial for a company’s command line and employees to be able to learning from long-term trends and listen to them.
Fear of the unknown, reluctance towards change and a tendency to focus only on short-term benefits are the most common obstacles which hinder the development of future-oriented ideas. In an organisational setting, these challenges can be overcome with the cultivation of a growth mindset and creating a culture of innovative thinking. Employees will also feel motivated to work towards an end-point in the future. This is referred to as phronesis. It is the idea that people need an incentive to take risks in their work. It can lead to more retention rates among employees in businesses that have a https://datatraininst.com/2021/07/14/generated-post-2 forward-looking approach.
It is becoming increasingly clear that innovation ecosystems could benefit from a better understanding of future possibilities. This could be achieved by integrating foresight into innovation ecosystems by extending the ties between research and strategy building processes, and increasing the overall awareness of future options by incorporating different perspectives into dialogue. The foresight wheel model is a methodological structure that can be used to meet these requirements effectively and in a scalable way. This article outlines a novel method of developing a future-oriented innovation.