Future-oriented innovations are those that incorporate innovative technology, products, and firms that improve the lives of people. They can enhance sectors such as healthcare and space technology, and also boost the competitiveness of a business. Producing them requires lots of work from many high tech technique stakeholder as well as a paradigm shift and an epistemic view that is significant. It is important that the leadership and staff of the company are open to learning from the long-term trends and paying attention to them.
Fear of the unknown, reluctance towards change and a focus on only short-term gains are the main barriers that hinder future-oriented innovation. In an organisational setting, these challenges can be overcome by fostering a growth mindset and an environment of innovation. Employees will also be motivated to work toward a future goal. This is known as phronesis. It is the belief that people need motivation to take risks in their work. It can result in higher employee retention rates for organizations that adopt a futuristic approach.
There is increasing evidence that innovation ecosystems can benefit from a stronger grasp of future possibilities. This can be achieved by including foresight in innovation ecosystems and strengthening the structural connections between research programs and strategic planning processes, and enhancing overall awareness of future options by incorporating diverse perspectives in dialog. The foresight wheel model is an idea of a methodological structure that can meet the needs of futureoriented mobility the market in a way that is both effective and adaptable. This article outlines a novel method for developing future-oriented innovations.
