Innovations in the Context of the Risk Management

Anna Karmanska, Tomasz Michalski and Adam Sliwinski
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Anna Karmanska: Warsaw School of Economics, Poland
Tomasz Michalski: Warsaw School of Economics, Poland
Adam Sliwinski: Warsaw School of Economics, Poland

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Abstract: Modern companies seeking to increase in the value have to be innovative. This is because innovation is an attribute of a knowledge-based economy, the competitiveness of enterprises, the market value of the company's growth and the challenge for many industries, not just those who are exposed to rapid technological progress. Innovations are a necessity component in products, processes and business model of the organization, logistics, environment and marketing. Human capital is a key factor in that component which. The paper refers to risk management of the innovative company. The authors ask a question: What determines limits of innovation and what fields of management are key elements of success? Two fields are identified: cost management of innovation process and insurance connected to that process. Background for the deliberations undertaken is knowledge based management of innovative company.

Date: 2013
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