Future-oriented innovations are innovative products as well as techniques, companies and businesses that improve the lives of people. They can enhance areas such as healthcare and space technology, or enhance a company’s ability to compete. To create these, it requires lots of effort from a variety of high tech stakeholders. It also requires a paradigm shift as well as an epistemic awareness. It is crucial that the leadership and staff of an organization are open to taking note of trends over time and taking note of them.

The most common barriers to encouraging future-oriented innovation are fear of the unknown and resistance to change, as well as the focus on short-term gain. In an organizational setting, these obstacles can be overcome by fostering a growth mindset and an environment that encourages innovative thinking. Employees will also be driven to work towards an end-point in the future. This is often described as phronesis which is the belief that individuals need to have a reason to make the risky choices in their work and can lead to higher employee preservation rates for companies that have a futuristic mindset.

It is becoming increasingly clear that innovation ecosystems can benefit from an understanding of future possibilities. This could be achieved by integrating foresight in innovation ecosystems, strengthening the structural connections between strategy-building processes and research programs, and raising awareness of the future possibilities through dialogue. The https://datatraininst.com/2021/07/08/generated-post/ foresight wheel model is a methodological structure that can be used to meet these demands in an effective and efficient manner that is scalable. This article introduces a fresh method of developing a future-oriented innovation.