Future-oriented innovations are innovative products or companies and techniques that can enhance people’s lives. They can enhance sectors such as healthcare and space technology, or boost the competitiveness of a company. To create them, it requires lots of effort from different high tech technique stakeholders. It also requires a paradigm shift as well as an epistemic awareness. It is also essential for a firm’s command line and staff to be willing to learn from long term developments and to be attentive to them.
Fear of the unknown, resistance to change and a focus only on short-term benefits are the main barriers that block future-oriented innovations. In an organizational setting, these challenges can be overcome by encouraging the growth mindset, encouraging an environment of innovation, and establishing a the future that employees can work towards. This is commonly referred to as phronesis, which is the idea that individuals must have an incentive to make risky decisions within their work and can lead to greater retention rates of employees for companies with a future-oriented attitude.
There is growing evidence that innovation ecosystems could benefit from a more thorough understanding of future possibilities. This could be achieved by integrating foresight into innovation ecosystems by extending the ties between research and strategy building processes, and enhancing general awareness of the future by incorporating different viewpoints in dialogue. The foresight wheel model provides a methodological framework that can address the needs of the market in a https://datatraininst.com/2020/05/09/advantages-of-adopting-a-future-oriented-approach-for-retrieving-information-from-a-data-room way that is both effective and scalable. This article discusses this new approach to developing future-oriented innovations.
