Future-Oriented Innovations
Future-oriented innovations are products companies, techniques and firms which can enhance the lives of individuals. They can boost sectors like healthcare and space technology, or improve the competitiveness of a business. To make these, it requires a lot of work from a variety of high tech stakeholders. It also requires a paradigm shift and an epistemic understanding. It is vital that the management and staff of the company are open to learning from the long-term trends and paying attention to them.
The most common obstacles to fostering forward-looking innovation are fear of the unknown and resistance to change, as well as the focus on short-term gain. In an organizational setting, these obstacles can be overcome by fostering the development of a mindset that is based on growth and an environment of innovation. Employees will also feel motivated to work toward a goal for the future. This is commonly known as phronesis which means that individuals must have a reason to make difficult decisions in their work and it can result in greater retention rates of employees for companies that have a futuristic mindset.
It is becoming more apparent that innovation ecosystems could benefit from an understanding of the future possibilities. This could be accomplished by infusing foresight into innovation ecosystems and strengthening the structural connections between research programs and strategy-building processes, and increasing general awareness of the future by incorporating diverse perspectives in dialog. The foresight wheel model provides a methodological construct that can address the needs of the market in a way that is both efficient and adaptable. This article presents a new approach to developing future-oriented innovation.
