Future-oriented innovations are progressive goods, firms and techniques that improve the lives of people. They can help improve areas such as healthcare and space technology or improve a company’s competitiveness. To create these, it requires lots of effort from various high tech technique stakeholders. It also requires a paradigm shift and a major epistemic awareness. It is vital that the management and staff of the company are open to learning from the long-term trends and listening to them.
The most common barriers to fostering forward-looking innovation are fear of the unknown and resistance to change as well as a focus on short-term gains. In an organization, these barriers can be overcome with the cultivation of a growth mindset and creating a culture of innovative thinking. Employees will also be motivated to work towards a future goal. This is commonly called phronesis, which is the idea that people need an incentive to make difficult decisions in their work and can lead to higher retention rates for employees in companies with a future-oriented attitude.
It is becoming increasingly evident that innovation ecosystems could benefit from a better understanding of future possibilities. This can be achieved by integrating foresight into innovation ecosystems and extending the structural ties between research programs and strategy-building processes and enhancing the overall understanding of the possibilities by incorporating diverse perspectives into dialogue. The foresight wheel model is a methodological model that can be used to meet these demands efficiently and in a scalable way. This article provides a new method for creating futuristic innovations.
