Future-oriented innovations are products or companies and techniques that can enhance people’s lives. They can improve the efficiency of sectors like healthcare and space technology, or enhance a company’s ability to compete. Producing them requires a lot of effort amongst many high tech technique stakeholder as well as a paradigm shift and significant epistemic visibility. It is crucial that the management and staff of a company are open to taking note of trends over time and listening to them.

Fear of the unknown, resistance toward change, and a focus only on the short-term gain are the main obstacles that prevent future-oriented innovations. In an organizational setting, these obstacles can be overcome with the cultivation of a growth mindset and creating an environment of innovation. Employees will also be inspired to work towards the future goals. This is often called phronesis, which is the notion that people need a reason to make risky decisions within their work and could result in higher employee preservation rates for companies that have a futuristic mindset.

It is becoming increasingly clear that innovation ecosystems could benefit from an understanding of future possibilities. This can be accomplished by integrating foresight into innovation ecosystems by extending the ties between research programs and strategy building processes and enhancing the general awareness of the future by incorporating diverse perspectives in dialogue. The foresight-wheel model is a methodology model that can be used to meet these needs in an effective and adaptable manner. This article describes a new approach to developing future-oriented innovation.

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