Future-oriented innovations encompass innovative products, companies and technologies that will 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 and an epistemic consciousness. It is vital that the leadership and staff of the company are open to taking lessons from long-term trends as well as listening to them.

Fear of the unknown, resistance toward change, and a focus only on short-term benefits are the most common obstacles that block future-oriented innovations. In organizational settings these can be overcome by encouraging an attitude of growth, encouraging the culture of innovation and creating a sense of future goal for employees to strive towards. This is known as the phronesis. It is the notion that people require motivation to take risks in their work. It can result in higher employee retention rates for businesses that have a forward-looking approach.

There is increasing evidence that innovation ecosystems can benefit from a more https://datatraininst.com/2021/07/14/generated-post-2/ thorough understanding of the future possibilities. This can be accomplished through the integration of foresight into innovation ecosystems. This could be achieved by strengthening the structural connections between strategy-building processes and research programs, and raising awareness of possible future options through dialogue. The foresight wheel model is a methodological model that can be used to meet these needs with a practical and efficient manner that is scalable. This article discusses this new approach for developing futuristic innovations.