Future-oriented innovations are products or companies and techniques that can enhance people’s lives. They can enhance areas like healthcare and space technology or improve a company’s competitiveness. To produce them, it takes a lot of work from various high tech technique stakeholders. It also requires a paradigm shift and a major epistemic awareness. It is vital that the management and staff of an organization are open to taking note of trends over time and taking note of them.

The most common barriers to encouraging future-oriented innovation are fear of the unknown or change, and a focus on short-term gains. In organizational settings these can be overcome by encouraging the development mindset, fostering the culture of innovation and establishing a an end-to-end goal for employees to work towards. This is often referred to as phronesis, which means that individuals must have an incentive to take risky decisions within their work and could result in higher employee preservation rates for companies that have a futuristic mindset.

There is growing evidence that innovation ecosystems can benefit from a stronger grasp of the future potential. This can be achieved by including foresight in innovation ecosystems and extending the structural ties between research programs and strategy building processes and enhancing the overall awareness of future options by incorporating diverse perspectives into dialog. The foresight model provides a methodological construct that can meet the needs of the market in a way that is both efficient and scalable. This article outlines this new approach to developing forward-looking innovations.

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