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FIRM STRATEGIES FOR RISK MANAGEMENT IN INNOVATION

University of Newcastle upon Tyne Business School, 2nd Floor, Armstrong Building, University of Newcastle upon Tyne, NE1 7RU, UK

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ANNE-MARIE COLES

Brunel Research in Enterprise, Innovation Sustainability and Ethics (BRESE), Brunel Business School, Brunel University, Uxbridge, UB8 3PH, UK

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https://doi.org/10.1142/S1363919606001429Cited by:16 (Source: Crossref)

Abstract

Analysis of potential risks is fundamental to technology development, but the definition and control of such risks are often problematic. This paper examines the issues concerned, aiming for an improved understanding of how the evaluation of risk shapes the emergence of new technology. The paper highlights different firm strategies taken towards evaluating risky technology, working from the micro-level of project management, and drawing on relevant qualitative case studies. Some contributors call for a meshing of analysis of macro-level technology policy objectives with an understanding of the micro-level activity of project planning. However, it is concluded that this can only be facilitated by first improving our understanding of theoretical perspectives and risk assessment practices at the firm level, since the firm remains critical to the generation and evaluation of new technology.

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