Future-oriented innovations include innovative products, firms and technologies which can enhance the lives of individuals. They can help improve areas such as healthcare and space technology, or improve a company’s competitiveness. To produce them, it takes an enormous amount of effort from various high tech technique stakeholders. It also requires a paradigm shift and a major epistemic awareness. It is also important for a company’s command lines and staff to be willing to learning from long-term trends and listen to 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 can be overcome with the development of a mindset that is based on growth and a culture of innovative thinking. Employees will also be inspired to work towards a future goal. This is commonly referred to as phronesis, which means that individuals need to have an incentive to make risky decisions within their work and it could lead to higher retention rates for employees of businesses that are geared towards the future.

It is becoming increasingly evident that innovation ecosystems can benefit from an understanding of the future possibilities. This can be achieved by integrating foresight into innovation ecosystems, expanding https://datatraininst.com/2020/10/15/future-mobility-specialists-are-passionate-professionals-with-a-high-degree-of-experience/ structural ties between research programs and strategic planning processes, and increasing general awareness of the future by incorporating diverse perspectives in dialog. The foresight wheel model is a methodological design that can be utilized to meet these requirements in an effective and scalable way. This article describes this innovative method of developing forward-looking innovations.