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Future-oriented innovations encompass innovative products, companies and technologies which can enhance the lives of individuals. They can help improve areas like healthcare and space technology, or improve the competitiveness of businesses. They require an enormous amount of effort from numerous high tech technology stakeholders which can lead to a paradigm shift as well as an epistemic view that is significant. It is also crucial for a firm’s command line and staff to be willing to learning from long-term trends and be able to hear them.

The most common barriers in fostering innovation that is future-oriented are fear of the unknown or change, and an emphasis on the short-term benefits. In an organizational setting, these challenges can be overcome by encouraging the growth mindset, encouraging an environment of innovation and establishing a an end-to-end goal for employees to work towards. This is referred to as phronesis. It is the belief that people require an incentive to take risks in their work. It can result in more retention rates among employees in businesses that have a forward-looking approach.

There is growing evidence that innovation ecosystems can benefit from a stronger grasp of the future https://datatraininst.com/2021/12/21/futureoriented-mobility/ possibilities. This can be accomplished through the integration of foresight within innovation ecosystems, expanding the ties between strategy building processes and research programs, and increasing awareness of the possibilities for the future through dialogue. The foresight wheel model is a methodological design that can be utilized to meet these needs in an effective and scalable way. This article describes a new approach to develop future-oriented innovation.