Future-oriented innovations are those that incorporate innovative products, companies and technologies that will improve the lives of people. They can help improve areas like healthcare and space technology, or increase the competitiveness of a business. Producing them requires a lot of effort amongst diverse high tech technique stakeholders as well as a paradigm shift and significant epistemic visibility. It is vital that the staff and leadership of the company are open to taking note of trends over time and paying attention to them.
Fear of the unknown, resistance towards change and a focus on only short-term gains are the most common obstacles which hinder the development of future-oriented ideas. In an organization, these barriers can be overcome with a growth mindset and an environment of innovation. Employees will also feel inspired to work towards the future goals. This is known as the phronesis. It is the idea that employees need a reason to take risks in their work. It can result in greater retention rates of employees in companies that employ a future-focused approach.
It is becoming increasingly apparent that innovation ecosystems could benefit from an understanding of the future possibilities. This can be achieved by including foresight in innovation ecosystems and extending the structural ties between research programs and strategy building processes, and increasing the overall understanding of the possibilities by incorporating diverse perspectives into dialog. The model of the foresight wheel provides a methodological framework which can meet these needs in a way that is both effective and adaptable. This article discusses this new method of developing future-oriented innovations.
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