Wow! eBook
Managing risk and uncertainty in the innovation process: Analysing the implications of managerial decision making
Author(s): Yahya Mohamed Mao (Author)
- Publisher: Independently published
- Publication Date: 28 April 2021
- Language: English
- Print length: 80 pages
- ISBN-10: B093RLBMQ8
- ISBN-13: 9798745883750
Book Description
Innovation is by definition the successful exploitation of a new idea. The management of the laborious process from idea generation over selection and prioritisation methods to the implementation of the best possible idea is the main role of innovation management. Since novelty is always accompanied with a certain degree of unpredictability of the success or failure of an innovation, innovation management, which represents a core activity in most of the today’s leading firms, also consists in turning uncertainty to something closer to a calculated risk (Tidd and Bessant, 2013). The understanding of the difference between risk and uncertainty, as well as the sources of each allow to derive effective methods for successful innovation management.
