Future-oriented innovations are progressive goods or companies and techniques that improve the lives of people. They can improve the efficiency of sectors such as healthcare and space technology or improve a company’s competitiveness. They require an enormous amount of effort from various high tech technique stakeholders as well as a paradigm shift and important epistemic awareness. It is also important for a company’s command lines and personnel to be open to learning from long-term trends and be able to hear them.
The biggest obstacles in fostering innovation that is future-oriented are fear of the unknown or change, and a focus on short-term gains. In an organizational setting, these obstacles are overcome by having a growth mindset and an environment that encourages innovation. Employees will also be driven to work towards a goal for the future. This is often called phronesis, which is the notion that people need an incentive to take more risky decisions in their job and can lead to higher retention rates for employees in companies that have a futuristic mindset.
There is increasing evidence that innovation ecosystems could benefit from a stronger grasp of the future possibilities. This could be achieved through the integration of foresight into innovation ecosystems. This could be achieved by extending structural ties between strategy building processes and research programs, and increasing awareness of the possibilities for the future through dialog. The foresight-wheel model is an approachological construction that can be used to meet these requirements efficiently and in a flexible manner. This article outlines this new method for creating innovative technologies that are geared towards the future.