Future-oriented innovations are products or companies and techniques that can enhance people’s lives. They can improve sectors like healthcare and space technology, or boost the competitiveness of a company. To develop them, it takes a lot of work from various high tech technique stakeholders. It also requires a paradigm shift as well as an epistemic understanding. It is also essential for a firm’s command line and personnel to be open to learn from long term developments and to be attentive to them.
Fear of the unknown, resistance towards change and a tendency to focus only on short-term benefits are the most common obstacles that prevent future-oriented innovations. In an organizational setting, these challenges can be overcome by encouraging an attitude of growth, encouraging a culture of innovation and establishing a future goal for employees to pursue. This is known as the phronesis. It is a belief that people require a reason to take risks in their work. It can result in greater retention rates of employees in companies who have a future-oriented approach.
There is increasing evidence that innovation ecosystems could benefit from a stronger grasp of the future possibilities. This could be accomplished by infusing foresight into innovation ecosystems and strengthening the structural connections between research programs and strategic planning processes, and increasing the overall understanding of the possibilities by incorporating diverse perspectives into dialog. The model of the foresight wheel provides an approach to methodological development that can meet these needs in a manner that is both efficient and scalable. This article describes this innovative method of developing innovative technologies that are geared towards the future.
