Future-oriented innovations are progressive goods or companies and techniques that can enhance people’s lives. They can help improve areas such as healthcare and space technology or increase a company’s competitiveness. Making them requires a lot of effort amongst various high tech technique stakeholders which can lead to a paradigm shift as well as significant epistemic visibility. It is crucial that the staff and leadership of an organization are open to learning from long-term trends and listening to them.
Fear of the unknown, resistance towards change and a focus on only short-term gains are the main barriers which hinder the development of future-oriented ideas. In an organizational setting, these challenges can be overcome by encouraging the development mindset, fostering an environment of innovation and creating a sense the future that employees can strive towards. This is referred to as phronesis. It is the belief that employees need an incentive 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 clear that innovation ecosystems could benefit from an understanding of future possibilities. This can be accomplished through the integration of foresight within innovation ecosystems, strengthening the structural connections between strategy-building processes and research programs, and enhancing awareness of the future possibilities through dialog. The foresight wheel model is a methodological design that can be utilized to address these needs with a practical and scalable way. This article discusses this new approach to developing future-oriented innovations.
