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Risk Management in Innovation

  • Tim Mazzarol
  • Sophie Reboud
Chapter
Part of the Springer Texts in Business and Economics book series (STBE)

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.

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Copyright information

© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  • Tim Mazzarol
    • 1
  • Sophie Reboud
    • 2
  1. 1.University of Western AustraliaCrawleyAustralia
  2. 2.Burgundy School of BusinessDijonFrance

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