Future-oriented innovations are products or companies and techniques that improve the lives of people. They can boost sectors like healthcare and space technology, or improve the competitiveness of a company. To make them, it requires an enormous amount of effort from various high tech technique stakeholders. It also requires a paradigm shift and an epistemic consciousness. It is crucial that the staff and leadership of an organization are open to taking lessons from long-term trends as well as paying attention to them.
Fear of the unknown, reluctance towards change and a tendency to focus on only short-term gains are the main barriers which hinder the development of future-oriented ideas. In an organizational setting, these obstacles can be overcome with the cultivation of a growth mindset and creating an environment that encourages innovation. Employees will also be inspired to work towards an end-point in the future. This is commonly described as phronesis which is the notion that individuals require the motivation to make more risky decisions in their job and can lead to higher retention rates for employees in organizations that have a forward-looking mindset.
There is increasing evidence that innovation ecosystems could benefit from a more thorough understanding of future possibilities. This can be achieved by https://datatraininst.com/2020/05/09/advantages-of-adopting-a-future-oriented-approach-for-retrieving-information-from-a-data-room/ integrating foresight into innovation ecosystems, expanding structural ties between research programs and strategic planning processes and enhancing the overall understanding of the possibilities by incorporating diverse perspectives in dialogue. The foresight wheel model is a methodological structure that can be used to address these needs in an effective and scalable way. This article describes this innovative approach to developing futuristic innovations.