Future-Oriented Innovations

Future-oriented innovations include innovative products, firms and technologies that improve the lives of people. They can fine-tune sectors like healthcare and space technology or improve a company’s competitiveness. They require considerable effort from various high tech technique stakeholders, a paradigm change and major epistemic visibility. It is important that the top management and employees of a company are open to learning from the long-term trends and listening to them.

Fear of the unknown, resistance towards change and a focus only on the short-term gain are the most frequent obstacles that prevent future-oriented innovations. In an organisational setting, these challenges are overcome by having an attitude of growth and an environment that encourages innovation. Employees will also feel driven to work towards a future goal. This is referred to as the phronesis. It is the notion that people require an incentive to take risks in their work. It can lead to higher employee retention rates for organizations that adopt a futuristic https://datatraininst.com/2020/10/15/future-mobility-specialists-are-passionate-professionals-with-a-high-degree-of-experience/ approach.

It is becoming increasingly clear that innovation ecosystems could benefit from an improved understanding of future possibilities. This can be accomplished by integrating foresight into innovation ecosystems by extending the ties between research programs and strategic planning processes, and increasing the overall understanding of the possibilities by incorporating diverse perspectives in dialog. The foresight-wheel model is an approachological model that can be used to meet these demands with a practical and efficient manner that is scalable. This article outlines this new approach to developing future-oriented innovations.