Future-oriented innovations include innovative products, firms and technologies which can enhance the lives of individuals. They can boost sectors like healthcare and space technology, or boost the competitiveness of a business. To produce them, it takes a lot of work from a variety of high tech stakeholders. It also requires a paradigm shift as well as a major epistemic awareness. It is vital that the top management and employees of a company are open to learning from the long-term trends and taking note of them.

The most common barriers in fostering innovation that is future-oriented are fear of the unknown or change, and the focus on short-term gain. In an workplace, these obstacles can be overcome through the cultivation of a growth mindset and creating an environment that https://datatraininst.com/2021/12/21/futureoriented-mobility/ encourages innovation. Employees will also feel inspired to work towards an end-point in the future. This is referred to as the phronesis. It is the notion that people need a reason to take risks in their work. It can lead to higher employee retention rates for businesses that have a forward-looking approach.

There is increasing evidence that innovation ecosystems could benefit from a better understanding of the possibilities for the future. This could be accomplished by integrating foresight into the innovation ecosystem and extending the structural ties between research programs and strategy building processes, and enhancing general awareness of the future by incorporating diverse perspectives into dialog. The model of the foresight wheel provides an idea of a methodological structure which can meet these needs in a way that is both effective and adaptable. This article outlines a novel approach to developing future-oriented innovation.