and Thomas W. Leigh (1993), An Exploration Of high-Risk Leisure Consumption Through Skydiving, Journal of Consumer Research, Volume 20, Issue 1, pp. 1-23.10.
and long term and manage the risks. The results of the questionnaire and interview deliver that the company size is an essential factor to distinguish the sophistication of Romania innovation systems.
15 Torben Juul Andersen and Peter Winther Schroder, Strategic Risk management Practice, Cambridge university Press, 2010.16 Vlerick Leuven Gent Management School, Global Entrepreneurship
Secondly, these conservative positions suggest that they have a tendency towards a long-term orientation that avoids risk-taking (Dess et al. 2011.
and risk-taking, creates the factors closely tied to an entrepreneurial firm (Covin and Slevin 1989;
proactiveness and calculated risk-taking, innovative marketing, and others as suggested by the innovation variable.
performance, risk and value. Journal of Small Business Management, 39,31 49. Mcevily, SK, & Chakravarthy, B. 2002).
) The role of family influence in strategic response to the threat of imitation. Entrepreneurship Theory and Practice, 32,979 998.
) Entrepreneurial risk taking in family firms. Family business Review, 18 (1), 23 40. Zahra, SA, Hayton, JC,
However, the risk is that vested interests from the most powerful regional stakeholders and lobbies may condition decision-makers,
Minimising the risks of lock in, clientelism and corruption requires the design of adequate checks and balances limiting the risk of pervasive incentives for public officials.
These risks may be the consequence of a political system that fails to maintain high standards of efficiency,
that is unable to ensure a good quality of the public administration, and that is incapable of establishing a clear and transparent merit-based selection of officials.
SMES and their dynamic nature, inherent risk-taking behaviour, and resulting innovation capacities serve as catalysts to (developing) economies (Benácek, 1995;
and are formalized less, are more likely to take risks, and are faster to react to change than large firms (Parida et al, 2012).
and enable them to share the risks/costs associated with new product/service development with partners (Parida et al, 2012).
Furthermore, collaborating with parties that represent no direct competitive threat either because they operate in different sectors
or because the stage of joint innovation projects is several years ahead of market applications is associated with lower coordination costs and a lower risk of opportunism (De Man and Roijakkers, 2009;
and resources Risk of opportunistic behaviour/partner selection challenges Cost and risk-sharing Benefits of joint innovation need to be shared Speed
and peers allows small companies to share some of the risks and costs associated with innovation with these partners.
SMES that make use of their innovative strengths (e g. flexibility, risk-taking behaviour, etc. and compensate for their resource shortages by embracing OI strategies feel they are positioned better for keeping up with the pace of development
and the risk of opportunism is lower to the extent that small firms collaborate with other SMES
or partners that do not pose direct competitive threats. The final drawback mentioned by the firms in our sample is related to the high coordination costs associated with managing collaborative relations.
and their willingness to take risks are viewed as important drivers of innovation and economic growth in developing economies (Peng, 2001;
and managing the risks associated with opportunistic behaviour on behalf of their partners. While the preferred OI partners of the SMES in our sample are suppliers
The alliance literature points out that the risk of opportunism is lower to the extent that OI partners are no direct competitors in end markets (De Man and Roijakkers,
2009) and therefore it may be beneficial for SMES to predominantly engage with partners that do not pose competitive threats
and thus circumvent the risk of opportunism. 16 Acknowledgements The authors would like to acknowledge the contribution
balancing control and trust in dealing with risk. Long range planning, 42,75-95. Marcati, A.,Guido, G. & Peluso, A m. 2008.
Importantly, digital technology can give young people the confidence to take action and put their leadership skills to the test with minimal risk,
but cannot do it with confidence. xv The risk is disadvantaged that communities become further marginalised from power and unable to attract the resources needed for effective social growth.
the overall costs and risks of climate change will be equivalent to losing at least 5%of global GDP each year,
If a wider range of risks and impacts is taken into account, the estimates of damage could rise to 20%of GDP or more.'
The view of innovation in the EU 2020 strategy risks being seen as somewhat top down
including the willingness to take risks and find creative ways of using underused assets. Social enterprises are businesses with primarily social objectives
which provides flexibility for employers and security for employees against labour market risks and holistic early years'provision in Reggio Emilia, Italy);
which a critical role is played by individual entrepreneurs engaged in risk and innovation. Today most discussion of social innovation tends to adopt one of three main lenses for understanding how change happens:
The risks of change will appear great compared to the benefits of continuity. This applies as much to peasant farmers nervously contemplating new models of farming,
too many contracts place excessive risk on providers, causing some organisations to reject opportunities to deliver services;
One of the main factors for the success of the project was that interventions were targeted at the community level rather than directed towards particular‘high risk'individuals;
In addition, the entire process is designed to create a‘safe space'for experimentation, creative thinking and risk taking.
growth and risk-taking social ventures. Venture philanthropists seek social as well as financial returns on investment although in many areas,
regions or localities to innovate together, sharing knowledge and risks (such as the 27th Region in France).
-innovation models of audit which are proportionate about risk and able to judge programmes in the round, with a portfolio of potential risk and reward Reporting tools for example, 2-3 year reports on innovation performance by key public agencies,
using some rough metrics such as Sweden's use of social economic reporting, and the EU's encouragement of Social Return on Investment methods. 68 However, we emphasise that this is an emerging field without much strong evidence for the effectiveness of particular policies.
sufficiently outside to take risks and mobilise partners in flexible ways. In this section we summarise some of the enablers and barriers to innovation in public agencies;
However, there are numerous structural features of government that inhibit risk taking, experimentation and innovation. There are barriers and obstacles in the form of cost-based budgeting and departmental structures, audit and accountability processes,
which are more supportive of experimentation and risk taking. There are also a series of policies
A programme of actions to improve the prospects of a group (for example 14-16 year olds in a particular area at risk of crime or unemployment;
It shares the risk for a bundle of interventions, with finance raised from the market, with investors taking on some of the risk for non-achievement of social outcomes;
and reward community-led innovation in response to the threats posed by climate change. The Big Green Challenge, aimed at the not-for-profit sector is the first challenge prize of its kind.
As well as mitigating risks, the structure of a tournament helped to refine and clarify ideas. Police Act Wiki, New zealand Open innovation provides one model for harnessing highly distributed knowledge to share information,
too many contracts place excessive risk on providers, causing some organisations to reject opportunities to deliver services;
For the public sector, the traditional risk averse and cautious organisational cultures of public sector bureaucracies remain a major barrier.
In contrast, innovation in the private sector tends to be encouraged by market pressures, the clearer rewards for risk,
and find it hard to spread risk. Similarly, the informal household economy plays a critical role in developing social innovations
and an inability to secure risk-taking growth capital poses a key obstacle to the long-term sustainability and growth of the sector.
and risk-taking growth capital in particular which is critical to enabling them to move from start-up to the next level of development. cxxva transition away from grant dependence towards commercial finance is crucial for the longer-term sustainability
too many contracts place excessive risk on providers, causing some organisations to reject opportunities to deliver services;
and though it does take greater risks than banks, investees must be able to repay the loan element of their investment. cxxxii Skills
risks, management risks, staff benefits) 4. Cost effectiveness (cost savings, scalability, wider economic gains) The tool also makes explicit the strength of the knowledge base underpinning the assessments.
and risk evaluation are necessary. Given the range of funding requirements we do not propose a single social innovation fund.
and Vulnerability, Cambridge UK, Cambridge university Press. viii Marjorie Jouen (2008), Social Experimentation in Europe: towards a more complete and effective range of the EU actions for social innovation, Background paper for the Forum on social experimentation in Europe presented on 21-22 november 2008,
addressing the critical gaps in risk-taking capital for social enterprise, Skoll Centre for Social Entrepreneurship Working Paper, Said Business school, University of Oxford, Oxford: UK lxxxviii
Addressing the critical gaps in risk-taking capital for social enterprise. Skoll Centre for Social Entrepreneurship Working Paper, Said Business school, University of Oxford.
Addressing the critical gaps in risk-taking capital for social enterprise, Skoll Centre for Social Entrepreneurship Working Paper, Said Business school, University of Oxford, Oxford: UK cxxvi
http://www. oecd. org/dataoecd/32/18/44227733. pdf. Accessed 7 january 2010. clv Flyvbjerg, B.,Bruzelius, N.,&rothengatter, W. 2003) Megaprojects and Risk:
Comparative risk assessment and environmental decision-making (pp. 15-54. Springer, Netherlands. clxvii Ibid. clxviii Baltussen, R. & Niessen, L. 2006.‘
which it provides those giving out the prize a means of finding a solution to a problem without shouldering the burden of risk.
Indeed, with competitions, it is the participants who are expected to foot the financial risk. In the social economy,
however, there are arguments for sharing, rather than shifting, the risk. This can be achieved through a stage-gate process
and reward community-led innovation in response to the threats posed by climate change. The Big Green Challenge, aimed at the not-for-profit 3 PROTOTYPING
mitigate the risks of flooding and provide local residents with cheap, renewable energy. Through hydro, wind and thermal power (some of which will be owned community) Green Valleys is hoping to make the 520sq mile area‘energy independent'.
IT, supply chain systems and systems for risk management. These will be translated into an economic or business plan,
and risks are reduced. They sometimes have an advantage over venture capital funding in that they can tap investors who want to make social impact their primary incentive rather than financial returns.
though it remains unclear how much they will be used primarily to spread already proven models (with reasonably reliable risk)
and risk-taking social ventures. It plays an important role in diversifying capital markets for nonprofits and social purpose organisations.
reducing risk, or by facilitating adaptation to changing markets and environments. Complex, multidimensional needs are a key site for potential collaboration.
It brings a number of benefits such as distribution of risk and financing. But it can only work
but the acquisition of new technologies and capacities, the diffusion of risk, and increasing efficiency and standards.
& Jerry's franchises to help train at-risk youth.‘‘Stanford Social Innovation Review.''Summer, 2003.8.
Incumbents tend to deflect threats or to reinterpret radical new ideas in ways that fit existing power structures.
and Sure Start providing intensive support for children to reduce risk factors. Where these succeed they create a political constituency for public investment in early years'education as well as effective models for delivery. 234) New models of the support economy.
and controversial, infrastructure is the creation of a single database of children deemed‘at risk'in the UK.
But there are many structural features of government that inhibit risk taking and innovation. There are barriers (from cost based budgeting and departmental structures, to audit and accountability processes,
Strategic issues Innovation in the public sector always risks being a marginal add-on smallscale in terms of funds, commitment of people and political capital.
Rewards can take the form of recognition, promotion or finance. 317) Appropriate risk management. Public agencies tend to be fearful of risk.
The challenge is to manage risk, not eliminate it. Risk can be managed across a portfolio of projects that span the high return/high risk 1 148 THE OPEN BOOK OF SOCIAL INNOVATION end
as well as medium and low return agendas. A balanced view of risk is vital some innovations spread too slowly
but others spread too fast, without adequate evaluation and assessment, particularly when they win the backing of leaders.
A commitment to evaluation and evidence, and staged development of new approaches, helps reduce risk. 318) Formation
and training to integrate innovation into personal development, training, and culture. Some need to become specialists in spotting, developing and growing ideas.
More generally, innovation, including a licence to take appropriate risks should be part of personal development plans. 319) Circuits of information from users to front line staff and senior managers.
and support innovation (the recent UK National Audit Office (NAO) report on innovation was a major step forward in rethinking audit as a support to innovation rather than a barrier to healthy risk-taking).
New zealand), lotteries provide a primary source of funding for community ventures. 351) Socialising risk. New forms of social insurance for long term care for example
investments combining tranches with different rates of risk/return and different sources of capital (philanthropic, public, private) such as Blueorchard (Switzerland) or Big Issue Invest in the UK. 367
Donors can handle high levels of risk and do need not the certainty of returns of the private sector.
Partly, this is because they face limited access to risk and growth capital, and to highly specialist technical knowledge,
84 Regulation & Legislation 161-162 Relational Capital 74-77 Report Empty Homes 18 Research & Mapping 17-20 Risk 54;
In a recent report on risk and innovation 1 the UK Government scientific adviser, Mark Walport, states that debates about risk are also debates about values, ethics and choices and fairness,
and who carries the risk. Work by scientists such as Walport 1 as well as by thinkers such as Schön 12
Managing Risk, Not Avoiding It The Government office for Science, London. 2. Ayres, C. J. 2012.
and hence are exposed to the risk of becoming lockedin to a specific technology, used by one contractor but not by others.
Unlike larger companies, with their teams of lawyers and consultants, SMES tend to avoid the legal risks of engaging in cross-border commerce.
European SMES therefore risk missing important economic opportunities. E-business Fourth phase: e-business (from 1999) Internet technology has gone far beyond a mere means of electronic transactions becoming a foundation for applications linked to the core business systems,
The risk to this dependence is one of the obstacles, which delays the small organizations in embracing ICT technologies,
to reduce risk of development or market entry, to achieve scale economies in production, and to reduce the time taken to develop
However, if that is the case, there is always a risk that different institutions may use different definitions
the comments were used as a source of information for missing values and for potential threats to the validity due to deviant interpretations.
If U multirank is not dependent on one major source a further advantage lies in the distribution of financial risks.
a firmer enforcement policy is needed to address the threat of protectionism in some Member States.
%to ensure at least 20 million fewer people are at risk of poverty or social exclusion.
27 2. 2. 2 Advantages and Risks in Cloud computing Outsourcing Projects...28 2. 2. 3 Managing Changes and Organizational Issues...
72 4. 3. 3 Marketing Intelligence and Risk Analysis...73 4. 4 Social Listening Challenges...
89 5. 2 Advantages and Risks Associated with IT Consumerization...90 5. 2. 1 Advantages and Opportunities of IT Consumerization...
91 5. 2. 2 Challenges and Risks of the Consumerization of IT...92 5. 3 Steps for IT Consumerization...
, to identify fraud or medical patients health risk. Continuous process monitoring: e g.,, to identify variations in costumer sentiments towards a brand
and Twitter to identify potential threats or opportunities related to human resources, customers, competitors, etc. As a consequence, we believe that the distinction between DDSS
, improving risk analysis and fraud management, to utility and manufacturing, with a focus on information provided by sensors and internet of things for improved quality control, operations or plants performance,
In particular, low performers resulted more oriented towards the use of intuition than top performers in customer service, product research and development, general management, risk management,
perspectives on value, risk, and cost. IEEE Comput 46:32 38 24. Tallon BPP, Scannell R (2007) Information life cycle.
which can be achieved by getting the advantage of delivering the product to customers. 3. Performance assurance and quality,
which allows the company to transfer the risk of failure to the vendor, especially when the company does not have required the experience and the core competence in this field.
and Risks in Cloud computing Outsourcing Projects Cloud computing is like any other new development in IT,
since it has advantages and risks. According to 8, there are many benefits for utilizing a third party cloud computing service provider for the implementing company.
8 suggests there are s number of risks when adopting cloud computing services. These risks are summarized as follows:
1. The customer service quality at the company might be affected with this change, which could happen
The risks and impact of IT outsourcing also have to be considered. Gai and Li 10, for example suggest that security problem could arise because of poorly executed protocols
1. Logical storage segregation and multi-tenancy security This risk might happen when some clients and their own competitors share the same physical storage location,
when considering the‘pay as you use'feature of the cloud. 3. Insider attacks This risk can be very dangerous based on the fact that the provider does not reveal information such as, e g.,
This risk can lead to situations like financial impact brand damage and productivity loss. 4. Virtualization issues Virtualization is very important in the cloud computing to achieve its goal of sharing resources.
increasing the risk of undesirable cooperation of one application (of one VM) with others on the same host.
then it brings significant threats to the holistic view of cloud computing. 5. Cryptography and key management The need for appropriate and,
and comprises risks related to data security and portability. Level 2: Cloud migration, which will happen during the change from one CSP to another
and comprises risks about data migration security and about making sure that the old CSP, will delete customer's data on its cloud servers. 9. Service Level Agreement
Other examples of the risks include the low controllability over the service, data ownership and loss of data since it is provided by a third party service provider,
The previous mentioned risks and challenges have to be considered by the transforming company which needs to be able to deal with them by having backup plans in case of a disaster.
and risk assessment and includes the activities and outputs shown in Table 2. 4. In this step,
This includes critical decisions such as staffing, communication, organizational rules and risk assessment. This step faces challenges such as clearly defining business
and the risks accompany this migration before the firms transform their IT system to the cloud.
to ponder the benefits that will be gained as well as the risks that are inherited in this transformation. The second case study,
Careful analysis of the benefits, opportunities and risks are very important in the transformation to the cloud computing environment.
The second is about to the risk related to the data protection and security, which is a very important factor that needs to be considered.
This Chapter provides a description about the risks accompanying cloud computing and how to manage them.
benefits and risks associated with cloud computing. These case studies show that many issues have to be considered before commencing with the transition to this new technological platform.
10.1109/EMEIT. 2011.6022935 2. Carroll M, Van der Merwe A, Kotzé P (2011) Secure cloud computing benefits, risks and controls.
and devices on the legacy systems Best-ofbreed The option to acquire progressively on the market the needed functionalities mitigates the risk of relying on a single vendor The approach
In summary, they focus on risks and challenges for company data privacy and security by Bring Your Own Device (BYOD)
, Wordnet 20, reducing the potential threat described above. Under this point of view, ontologies enable Web documents annotation,
which it has been used. 4. 3. 3 Marketing Intelligence and Risk Analysis Key words for new strategies such as‘‘open solution'',
Thinking about mobile banking, it seems to be evident the potential threat related to security issues,
Moreover, in addition to web browsers, also web server software can be attacked easily by malware and other threats.
In order to effectively react to these challenges is highly important to define security policies able to identify in advance any kind of vulnerability.
Therefore, the marketing intelligence approaches and technologies can play a crucial role in the risk analysis process (using, for example,
Furthermore, the additional threat is that illegal behaviors such as‘‘cyberbulling'',stalking'',phishing'',scam'',marketing spam,
Other researchers has shown the risk to privacy related to vanity queries, in which a user issues a query for his or her own name 31.
identify, evaluate and face the impact of external risks that rise up from social networks and 2. 0 technologies.
identify potential threats, evaluate the impact and undertake initiatives in order to eliminate or reduce the potential threats.
Precautionary actions (through marketing intelligence tools) can create the conditions through which firms can control the information flow
in order to prevent and control risks through marketing intelligence tools, these have to use advanced and appropriate metrics.
in order to translate potential risks into quantified data, further efforts are required to design and develop frameworks
and applications to recognize potential threats into a text. One of the most interesting approach could be described the one by 32,
that is focused on the risks identification in messages or texts, trying to support the decision making process (this approach has been applied in the financial sector).
Finally, one of the characteristic of the risk is the uncertainty. This means that more than one result can occur.
The three dimensions lead investors to recognize risk associated statements or messages. After this first step
the potential threats are classified on the base of their impact (positive, negative or positive negative.
(or can be associated to a risk; evaluate which kind of impact this risk can have. External Risks Legislation Competitors'activities Market Socioeconomic context Suppliers and partners Internal Risks Compliance Business processes Operations Marketing Intelligence activities Reduce external factors
impact Prevent risks and criticalities Fig. 4. 1 Risks areas and factors Statement Uncertainty Firm Value Future Timing Risk Impact Fig. 4. 2 Model for recognize risks
associated statements. Adapted from 32 76 4 Social Listening In order to facilitate the automatic learning activity,
all the sentences are converted into a numerical representation, which can refer to single words, sentences with two or three words,
or part-of-speech (POS) tags. POS are used usually in order to catch syntactic aspects, while for semantic aspects usually tools such as, e g.,
in order to predict potential risks, but it perfectly shows all the threats and challenges that the marketing intelligence has to face
in order to be effective in the new competitive landscape. 4. 4 Social Listening Challenges Nowadays the techniques
that is the generation of positive or negative comments and opinions by Table 4. 3 Statements and risk impact examples Statements Risk impact‘‘Although lots of analysts predicted that the defibrillator market would have increased by 20%yearly,
Therefore, it is highly important to find a way to reduce this threat before people lose their trust on online reviews.
that let decision makers to apply tag on single content elements such as potential threats, business opportunities, etc.,
and enhancing the monitoring and risk management performance); adopt procedures as opened as possible (less sequential;
and Risks Associated with IT Consumerization Consumerization of IT represents both a challenge for the business,
and Risks Associated with IT Consumerization 91 has gained an important role in increasing workforce creativity
and Risks of the Consumerization of IT The increasing number of employees'private devices used in workplace is presenting a challenge for the managers 10.
or loss of the devices is considered as a bigger security threat, since the lost smartphone can contain significant amounts of sensitive corporate data.
Additionally, European Network and Information security Agency (ENISA), has provided a categorization for the risks associated with the consumerization of IT.
These categories and the risks assessed under each one of them are summarized as follows: 5. 2 Advantages and Risks Associated with IT Consumerization 93 Category 1:
Risks Related to Costs The risks under this category are: 1. Increased risk of loss of value in cases when employees bring bad reputation to the organization's name
or brand by uncontrolled use of consumerized services/devices such as, e g.,, Dropbox. 2. The increased variety and complexity of personal and mobile devices as well as different operating systems and applications that all requiring management will lead to increased costs. 3. The possibility of losing mobile devices would likely increase when the organization uses
more of these equipment, which means more costs. 4. Additional spending might happen to ensure that the security requirements do not prevent appropriate consumerization
Risks Related to Legal and Regularity Issues The risks under this category are: 1. Corporate governance and compliance control over employee-owned devices will not be optimal. 2
which may result in risks related to the intervention of businesses in the private life and property of employees.
Risks Affecting Data (Confidentiality, Integrity and Privacy) The risks under this category are: 1. the possibility of losing corporate data because of unauthorized sharing and usage of information on employees'devices by the services running on them;
3. the risk of losing corporate data as a result of difficulty in applying security measures and policies on application-rich mobile devices,
4. increased risk of the corporate data being hacked due to external attack. The following table (Table 5. 1) summarizes
and classifies the previous mentioned risks into primary and secondary categories. It provides cross-functional information for those interested primarily in one kind of risk who may need to consider the relationship between certain type of risk and others.
For example, it is expected that businesses dealing with privacy issues, might also be interested in risks related to data loss. 94 5 IT Consumerization Moreover,
more cost oriented businesses might also be interested in legalrelated risks. In the table the X symbol represents the primary category
and the (X) symbol represents the secondary category. Additionally, the table provides explanations on why some risks are falling into one
or more secondary categories. 5. 3 Steps for IT Consumerization Companies have to rethink their strategies to seize the opportunities associated with the consumerization of the IT devices rather than facing the consequences of this trend.
and secondary classification/dependencies of identified risks Category (cat) & risk (R) Category Comment Costs Legal and regularity Data Cat (1) R (1) X
privacy violations Cat (3) R (4)( X) X Secondary category as legal/regulatory from possible privacy violations Adapted from 7 5. 2 Advantages and Risks Associated
The organization that wants to adopt a consumerization of IT in a cost-effective manner has to evaluate the benefits and risks of such a strategy
and mitigate the risks involved 104 5 IT Consumerization with the adoption of this strategy;
and security risks involved in using certain software applications. Legal considerations. It is crucial to consider the different legal
top risks and opportunities responding to the evolving threat environment. ENISA, Heraklion, pp 1 18 5. 10 Summary 109 8. Copeland R, Crespi N (2012) Analyzing consumerization should enterprise business context determine session policy?.
and challenges. 7. 2 Privacy and Security Drivers and Challenges Chapter 5 ON IT consumerization has shown some of the main risks associated to the BYOD emerging trend in organization.
-or overinflated estimates of the scale of the risk of cybercrime 8. According to a report titled‘Measuring the cost of cybercrime'9,
the cost of protection against cybercrime often exceed the cost of the threat itself 10.
financial/monetary security/risk/and compliance, business processes, and supporting processes and infrastructure. Coherently with the BSC concept, the perspectives should be translated into metrics,
while for the security/risk/and compliance perspective they can be the mapping of users
However, a digital business identity is built also through interaction and exposure to users and societal Business Processes Security, Risk,
and Compliance Supporting Processes and Infrastructure Financial/Monetary Decision Support/Tactical Layer Risk management (Financial, IT), accounting,
information technology (IT) governance is a subset discipline of corporate governance focused on information systems and their performance and risk management.
and managing decisions for value generation as well as the risks that are associated with its practices. The interest in IT governance is need related to the for compliance and greater accountability of IT investments and use,
Table 8. 1 shows the decision making areas that can be addressed by having good governance to solve key drawbacks and risks, likewise.
Similarly, business managers and employees think Table 8. 1 Governance benefits for risks associated to key decision making areas Key decision making areas Risks Governance benefits Identifying the relevant decisions Misdirected effort
It was done using IT governance related areas such as strategic alignment, value delivery, risk management, resource management and 152 8 Digital Governance performance management.
and accountability Value Delivery and Risk management Related Critical Success Factors 7. Consolidate, communicate and enforce policies
Consequently, the vulnerability assessment considered the four major security issues mentioned below: 1. protection of sensitive personal data;
The risk of an enterprise not knowing the identity of its business partners is increased by e-commerce transactions
As a consequence, e-business and e-commerce are concerned more with IT governance due to their inherent risks.
These threats require the adoption of strong controls, policies, and management practices. Therefore each and every organization should have a thorough measure that reflects the risks,
as well as the benefits of a project. Organizations can achieve the best out of such situations by implementing effective IT governance practices 23.
protect assets and reduce ITRELATED business risks. There is also an increasing pressure ON IT to automate
emotional costs due to the uncertainty and operational risks associated with the products and technologies in use.
and since the innovation process involves higher costs and risks, the incentive to innovate is,
and risks of research and significantly Table 9. 9 Comparison between closed and open innovation Closed innovation Open innovation Location of R&d resources Internal R&d Internal and external
reducing and sharing the risks and improving competitive performance, likewise. 9. 6 Summary This Chapter has provided an overview of the digital innovation impact on Business models (BMS).
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