Risk Management in Innovation

Tim Mazzarol and Sophie Reboud
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Tim Mazzarol: University of Western Australia
Sophie Reboud: Burgundy School of Business

Chapter 8 in Entrepreneurship and Innovation, 2020, pp 227-263 from Springer

Abstract: Abstract This chapter examines the issue of how to manage risk in the process of innovation. By its very nature, innovation is inherently risky. The more radical and disruptive the innovation, the more uncertainty and potential risk is created. However, the management of risk remains an important issue for any manager or organisation seeking to engage in the commercialisation of innovation. Risk management, or enterprise risk management (Brustbauer 2016; Reboud and Séville 2016), is viewed as a major concern for managers today and the number of large companies having a risk manager is growing. However, within the context of new entrepreneurial ventures the dynamics are different, because such businesses are particularly risky, and face greater uncertainty. This is particularly the case in innovation where structured, systematic approaches are necessary.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-981-13-9412-6_8

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DOI: 10.1007/978-981-13-9412-6_8

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