Description

Innovation and risk management may seem contradictory: the former seeks to encourage flexibility to stimulate new ideas while the latter can be seen as stifling such innovative thinking. However, the high failure rate of innovations imply that organisations could benefit from more structured innovation approaches, using risk management. The research objective was to establish what risk and innovation factors could inhibit or stimulate more efficient products and service delivery to customers in a highly innovative industry. Action research was conducted over several years in a large organisation operating in a high-technology environment that launches many diverse products and services. A generic and empirically validated integrated Innovation and Risk Management Framework (IRMF) is proposed to guide new product and service development by considering both best practices and risks. Additionally, key risks believed to typical for many organisations in the ICT-industry were identified in the case organisation.

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Aug 10th, 12:00 AM

An Integrated Innovation and Risk Management Framework for the ICT Industry

Innovation and risk management may seem contradictory: the former seeks to encourage flexibility to stimulate new ideas while the latter can be seen as stifling such innovative thinking. However, the high failure rate of innovations imply that organisations could benefit from more structured innovation approaches, using risk management. The research objective was to establish what risk and innovation factors could inhibit or stimulate more efficient products and service delivery to customers in a highly innovative industry. Action research was conducted over several years in a large organisation operating in a high-technology environment that launches many diverse products and services. A generic and empirically validated integrated Innovation and Risk Management Framework (IRMF) is proposed to guide new product and service development by considering both best practices and risks. Additionally, key risks believed to typical for many organisations in the ICT-industry were identified in the case organisation.