Future-oriented innovations are progressive goods, firms and techniques which can enhance the lives of individuals. They can boost sectors like healthcare and space technology, and also boost the competitiveness of businesses. To create them, it requires many hours of work from a variety of high-tech technique stakeholders. It also requires a paradigm shift as well as an epistemic understanding. It is also important that a company’s command line and personnel to be open to learn from long term trends and listen to them.
The important link most frequent obstacles to encouraging future-oriented innovation are fear of the unknown, resistance to change and an emphasis on the short-term benefits. In the workplace, these issues can be overcome by encouraging the development mindset, fostering an environment of innovation and creating a sense of the future that employees can strive towards. This is known as the phronesis. It is a belief that people require an incentive to take risks in their work. It can lead to more retention rates among employees in companies who have a future-oriented approach.
It is becoming increasingly clear that innovation ecosystems could benefit from an improved understanding of future possibilities. This could be achieved through the integration of foresight into innovation ecosystems. This could be achieved by expanding the ties between strategy building processes and research programs, and enhancing awareness of the possibilities for the future through dialogue. The foresight-wheel model is a methodological design that can be utilized to meet these requirements with a practical and flexible manner. This article introduces a fresh approach to developing future-oriented innovation.