and services as well as access to the financial facilities supported under Access to Risk Finance of this work programme. 6 For topic PHC-12-2014/2015,
or manage the higher risks resulting from international opening of the schemes. Financial incentives, for example co-funding a limited number of initial transnational cooperation projects with knowledge institutions,
and control and manage risk in a collaborative partnership. This will provide managers of small companies with hands-on guidelines on how to innovate and setup innovation networks.
This action is linked to an investment readiness measure (Call H2020-BIR-2014 in the Access to Risk Finance Work Programme
and prevent disease throughout the lifespan by tackling key issues (nutrition, physical activity, alcohol, drugs and tobacco consumption, environmental risks, accidents at work, in traffic or at home, etc.).
and the Bioeconomy Fotolia. com Research and Innovation Managing food risk information in an online world Food scares can undermine consumer confidence,
million people are at risk of poverty and 14 million young people are not in education,
1991). 3. 3. Innovation barriers The most frequently indicated barriers constraining innovation are financial lack of funds for innovation, too high risk of innovation projects, too expensive technology.
The actual composition varies, depending on risk, technological advance, and economic situation of the firm. This means that a newly established firm pursuing a high-risk and technologically ambitious innovation project will receive a higher percentage of the support in the form of grants.
In the past few years, guarantees have gained relative importance, the share of loans has decreased slightly, whereas the share of grants has remained rather constant.
, novelty, R&d risk, feasibility, functionality, technological upgrading) and economic (performance, marketing experience and perspectives, commercialization strategies) criteria with different weights.
lack of finance, too high risk consultancy, reduction of risk Technological effects: technical services, technical know-26.9 10.3 Technological problems:
and increasing the risk of collective failure at cluster level (Bathelt 2004: 155). This has consequences on cluster development,
The freeze of public funding in the second half of 2010 as well as the frequent changes in the structure of STI policy governance point however to some risks regarding the continuous policy commitment needed to further address these important challenges.
greenhouse gas emissions and a slight decrease in the share of population at risk of poverty (although with a negative evolution since the crisis started in 2008.
Share of population at risk of poverty or social exclusion(%:%32.1 31.4 29.4 28.2 29.6 29.9 31.0:-0. 6 24.2 23 23 (9) Country specific recommendation in R&i adopted by the Council in July 2012:‘
Share of population at risk of poverty or social exclusion(%:%32.1 31.4 29.4 28.2 29.6 29.9 31.0:-0. 6 24.2 23 23 (9) Source:
European competitiveness and prosperity would be at risk. 39 36 EEA Report No 1/2007:
Impostors, by minimising the risk of dealing with impostors or persons who attempt to escape responsibility by claiming to have been impersonated;
Message integrity, by minimising the risk of undetected message tampering and forgery, and of false claims that a message was altered after it was sent;
and will still be facing some challenges that need to be overcome as to lower implementation risks
The intention of the EU policy regarding the facilitation of using e-invoicing in business is to diminish the risk of such transactions by introducing some uniform rules regarding e-invoicing throughout the European union.
costly investments bear the risk of becoming ineffective. Thus, revisiting the two initially specified working hypotheses (see 4. 1. 1
avoiding duplicating task and minimising the risk of losing important data. The system allows eliminating existing duplicated processes
costly investments bear the risk of becoming ineffective. IT practitioners. Interviewed SMES often lack a coherent ICT investment strategy
Moving about It is estimated that one in three people aged over 65 is at risk of falling going up to one in two for those over 80.
including a real risk of fatality. Technology permits the development of solutions which enable the elderly
The objective is to deliver by 2015 across the EU evidence based validated and operational programmes for prevention, early identification and minimisation of risk,
not only benefits but also carries risks. Only 12%of European web users feel completely safe making online transactions. 38%of users had concerns with the safety of online payments
by strengthening cross-border cooperation and information exchange. trust in technology 74%of EU Internet users in 2012 think that the risk of becoming a victim of cybercrime has increased in the past year.
(2) risk of use due to a lack of robustness of the technology under particular conditions, like in specific weather (environmental conditions and in interference with other electronic systems,
Patient safety (reduced risk of patient harm. Quality of care (effectiveness and efficiency of care service provision) A number of key technologies were identified as proven catalysts to significant healthcare improvement,
identify at-risk patients, and review the performance of individual physicians. Business intelligence and in particular Data mining are useful tools in the detection of outbreaks when used for the real time detection of infection trends within hospitals.
and the hospital faced significant risk with written off debt. The claims office were constantly fielding calls from consultants seeking updates on claims relevant to their patients.
The flexibility of SMES, their simple organizational structure, their low risk and receptivity are the essential features facilitating them to be innovative (Harrison and Watson 1998.
and risks associated with manual claims processing. In Australia, for example, electronic claiming over the internet has been available
providers investing in technological infrastructure face high risks of failure and poor returns. The ability to share information (interoperability) is also entirely dependent on the adoption of common standards and compliance with them. 3. Concerns about privacy and confidentiality:
or sharing the financial risk, and providing much more robust evidence on the advantages of health ICT can,
Tools that include alerts on a patient's potentially serious health condition or risk, and facilitate communication between providers have been cited as providing substantial benefits in health outcomes (Bates et al.,
providers investing in technological infrastructure face high risks of failure and poor returns. The ability to share information (interoperability) is also entirely dependent on the adoption of common standards and compliance with them.
because the physician does not bear the financial risk, the decision to finance and adopt ICT,
and the current risk-averse culture, public and private payers cannot simply rely on physicians willingness to pay for ICTS.
In so doing, they should give careful consideration to the possibility of sharing some of the risks and potential savings with health care providers.
2) clinical requirements (e g. reliability of patient records, and risk management. 2. 5. Lack of commonly defined and consistently implemented standards plagues interoperability Although,
by shifting or sharing financial risk, can therefore be expected to speed up ICT adoption. Not surprisingly, the range of financial incentives used in the various case study countries is broad,
part of the reimbursement or fees paid to the care provider is at risk. 76 CHAPTER 3. ALIGNING INCENTIVES WITH HEALTH SYSTEM PRIORITIES IMPROVING HEALTH SECTOR EFFICIENCY:
Potential further widening of this gap through loss of productivity during the early implementation stages carries a risk that EHR will not be adopted.
therefore, taking on a substantial share of the financial risk. This level of government intervention also reflects the public good nature of the initiative.
Partnerships lower the intervention costs (and risks) for any one health care organisation and increases the likelihood of effectiveness and sustainability of interventions.
Among the various instruments available to governments, certification helps mitigate risks and increases the confidence of users that the purchased systems will indeed provide required capabilities (e g. ensuring security
and simultaneously reduce the risks facing health ICT purchasers, thus acting as a two-stroke catalyst to accelerate adoption.
Reducing the risk of data loss in physician offices caused by human, hardware or software failure.
the risk increases that stigmatising disclosures could affect areas such as employment status, access to health insurance and other forms of insurance,
Both approaches have risks and benefits. The MAEHC decided to use a global opt-in approach for patient participation in the HIE.
The risk that large numbers of patients would refuse to opt in had been an issue in other countries (e g. the United kingdom
Reduction in the risk of clinical errors through improved legibility and reduced double-entry of patient information.
which was previously unavailable tissue plasminogen activator (tpa) within the first three hours after onset of symptoms can effectively reduce the risk of death and severe disability).
run the risk of a loss. A migration to an ASP was recommended, therefore. Use of the WDH,
For the stimulation of demand of innovation-public organisations can play an important role as visionary risk-taking and demanding reference customers.
Measures addressing information symmetries and risk assessment tools and systems are examples of government initiatives that can stimulate private initiatives.
How to stimulate demand of innovation Public organisations can play an important role as visionary risk-taking and demanding reference customers
and non-funding support that reduces risks and improves innovation management skills. Complement procurement processes with funding support that accelerates the scaling
as well as connected with a potential risk (they are vulnerable to loss of staff and knowledge and quality is often based on the quality of individual advisers).
Without change, Australia risks being competed out in the world market, resulting in fewer jobs and lower economic growth.
page 51) Accept international standards and risk assessments for certain product approvals (Proposal 1, page 31) Enhance the 457 and investor visa programmes (Proposal 11, page 55 and Proposal 12,
service or product has been approved under a trusted international standard or risk assessment, Australian regulators should not impose any additional requirements
All Commonwealth Government regulatory standards and risk assessment processes will be reviewed against this principle. TPO00007 Industry Innovation and Competitiveness Agenda Industry Competitiveness x Industry Innovation and Competitiveness Agenda As a first step, the Government will enable Australian manufacturers of medical devices to register routine medical
and move to a more-effective risk-based approach for compliance and monitoring. The Government will improve the Significant Investor visa programme,
and take their own risks. The Government is also acting to better translate Australia's good ideas into commercial success. Australia performs well on many measures of research excellence
and emergency response training to also cover production optimisation and risk assessments. VR Space has signed recently a three year partnership agreement with Simtars, a division of the Queensland Department of Natural resources and Mining,
A well-developed financial system founded on sound prudential regulation that efficiently manages risk and channels savings to the highest return investments.
For example, in its‘Opportunity at Risk'report, the Minerals Council of Australia (2012) noted that in Australia it takes around three years to get approval for a thermal coal project compared to around two years for the rest of the world.
To achieve this, we must also promote a culture of entrepreneurialism and responsible risk taking by business.
when policy settings discourage appropriate risk taking behaviour. This is why the Government is laying the groundwork for Australian businesses to embrace structural economic changes,
and risks and to decide whether, and in which areas, to invest their capital. Government subsidies and other policies that have distorted these decisions,
government assistance to these industries still risks‘crowding out'other productive industries, as the exchange rate and other economic variables adjust.
It is businesses themselves that are placed best to assess commercial prospects and risks, to foresee and take advantage of changing market conditions,
and manage risks. At the same time, regulations impose costs and reduce the flexibility of businesses and individuals to adapt to changing economic conditions.
and risk assessments of some highly regarded regulators in other advanced economies not being recognised in Australia.
Another example is that the Australian industrial chemical risk assessment system makes insufficient use of assessments
Regulators will adopt a risk based approach, for example, by focusing on businesses and activities that are higher-risk,
and lowering compliance costs for lower-risk businesses. We are also continuing the roll out of Standard Business Reporting,
to provide quicker and more accurate reporting across government agencies, and reduce the cost of regulatory reporting.
and risk assessments To reduce duplicative domestic regulation, the Government will adopt the principle that if a system,
service or product has been approved under a trusted international standard or risk assessment, then Australian regulators should not impose any additional requirements,
and risk assessment processes in each ministerial portfolio and objectively assess whether unique Australian standards or risk assessments are needed.
As a first step the Government will enable Australian manufacturers of medical devices to register routine medical devices using conformity assessment certification from European notified bodies.
and increase its acceptance of international risk assessments materials from trusted overseas regulators. This will be part of broader reform to introduce a graduated,
risk-based approach to the regulation of industrial chemicals that will streamline (and, in the case of low-risk chemicals, remove the need for) the pre market assessment of chemicals already authorised for use in comparable countries.
Portfolio Ministers will conduct consultations as part of existing deregulation commitments including working with stakeholder groups to develop criteria for accepting
take a risk-based approach, and are consistent and accountable. The Framework will apply to Commonwealth regulators that administer,
As not all employers are able to cover risks themselves, an alternative may be to allow other private employers to access cover under the Commonwealth laws as premium payers rather than self-insurers.
delivering personalised mentoring and support to‘at risk'apprentices; providing guidance to businesses taking on apprentices,
moving the national regulator, the Australian Skills Quality Authority (ASQA), to a new risk based model with improved information and education services, better recognition and greater autonomy
ASQA has taken already steps to reduce its level of interaction with training providers on low-risk activities.
nomination and visa applications around risk-factors to reward low-risk applicants and re-focus compliance and monitoring activities on high-risk applicants;
and reduce risk. Among other things the Centres will encourage businesses in these industries to form commercial research and development partnerships with each other,
and well understood risk How a Growth Centre could assist the food industry Significant growth in processed food exports requires many changes by individual firms across the supply chain
unless there is a risk that the employee will forfeit the shares, in which case taxation is deferred until the shares‘vest'(that is,
and assuming there is no risk of forfeiting the options, if the employees accept the options then they will have to pay tax on the free options in the income year they are provided the options,
Deferral of tax is limited to schemes where there is a risk of the employee forfeiting the shares or options,
when there is no risk of forfeiture or when any restrictions on the sale or exercise of the options are lifted (vesting point).
without the options necessarily being at risk of forfeiture. Further, for options, the deferred taxing point at vesting will be moved back to
Their scale means they can find it more difficult to access capital or carry and spread risks themselves,
Consultation pathways Reform Consultation pathway Projected timeframe A lower cost, business friendly environment 1. Accepting trusted international standards and risk assessments The Parliamentary
) Opportunity at risk: regaining our competitive edge in minerals resources. Sydney: Minerals Council of Australia. National Science Board.
Being an entrepreneur requires the ability to take risks, think innovatively, see possibilities, and do something with them by effectuating them into the marketplace.
feasibility studies to evaluate their cost-effectiveness, risk analysis, design and development, new policies and procedures, market research and marketing,
the risks are tolerated easily because the chance to find a solution is bigger; it is an inexhaustible source of stimulating the individual creative potential.
Risk taking Initiate more discussions with people from outside the organization Follow your intuitive hunches Allow people to be more spontaneous
and personal risks taken to drive innovation in the organization. 4. 7. 5. Guidelines for installing a corporate innovation system 1. Always create the motivation first.
What kinds of risks (implicit, career-wise) am I taking if I dedicate my time to innovation?
Links Using toys to stimulate creativity http://www. thunderboltthinking. com/performance improvement. htm Creating an Environment for Innovation http://www. strategyletter. com/CD0902/featured article. html Risk
which will allow the acceptance/rejection of potential projects based on the assessment of the potential gain in balance with the risks involved.
which they were willing to risk. However, it was decided to have a webpage with information and a possibility to email Magic Books,
so that the risks are minimised and profits are maximised. This text is designed to help SMES managers to understand the NPD methods necessary to introduce successful new products. 6. 1. 1
To manage risk via a stage0gate method, the parallel activities in a certain stage must be designed to gather vital information-technical,
market, financial, operations in order to drive down the technical arid business risks. Each stage costs more than the preceding one,
and risk is managed. The gates 2: Preceding each stage is an entry gate or go/kill decision point,
investment requirements Programme breakeven time Proposed customer quotation Updated programme schedule Programme staffing issues Programme risk issues NPD process deviations Final Design Review issues
Updated programme schedule and status Programme risk issues NPD process deviations"Innosupport: Supporting Innovation in SMES"-6. 1. New product development methods page 113 of 271 6. 1. 3. 2. Success Factors Success Factors
The Challenge This team needed a product development process that would help them manage critical risk without slowing them down.
and legal risk issues to be managed. The senior management gatekeeping team has welcomed already the consistency of business cases produced"Innosupport:
Another risk, which is undertaken without regular updating is that the original patents and the technology they protect may become obsolete.‘'
such as the specific nature of the innovation project or new technology business, the financial risks involved, the complexity of the project and the time needed for development.
the risk is with the investor as much as with the company and so is the loss.
Since innovation is considered a high-risk business by most banks, it is sometimes difficult to find a bank willing to offer a loan.
The most dominant problems are listed below in Table 1. Barriers to innovation in SMES Studies (amongst others) Financial bottlenecks-hindered access to external finance,-high innovation costs (and therefore)- high economic risks Acs
and ii) SMES. b) What are the advantages and possible risks of internationalization of innovation activities, particularly of R&d?
For example, on the issue of access to financing for R&d, many respondents recommended public programmes and support for venture capital and other types of risk financing through, for example, tax incentives.
and services as well as access to the financial facilities supported under Access to Risk Finance of this work programme. 5 For topic PHC-12-2014/2015,
or manage the higher risks resulting from international opening of the schemes. Financial incentives, for example co-funding a limited number of initial transnational cooperation projects with knowledge institutions,
and control and manage risk in a collaborative partnership. This will provide managers of small companies with hands-on guidelines on how to innovate and setup innovation networks.
This action is linked to an investment readiness measure (Call H2020-BIR-2014 in the Access to Risk Finance Work Programme
Since firm entry involves considerable risk, with survival chances that are difficult to assess, institutions that make exit very costly discourage entry.
and SMES looking for risk Key policy recommendations Increase the ability of women to participate in the labour force by ensuring the availability of affordable child care and equal treatment in the workplace.
Regulations should be designed to minimise negative impacts on provision of risk finance. Regulations and supervisor arrangements designed to safeguard the soundness of financial systems can affect the provision of risk finance to SMES.
Such regulations should be subject to cost-benefit assessments before they are implemented and their impact should be monitored subsequently.
Subject new regulations which could adversely affect the provision of risk finance to cost-benefit tests of their likely effect before implementation and monitor their subsequent impact.
or for increasing the efficiency of government policy in addressing other market failures that affect innovation processes (e g. sharing the cost and risk of pre-competitive research).
ways of spreading risk; lowering and sharing costs, including R&d costs; and in many cases, improving access to finance.
political risks; corruption; and rule of law issues. SMES'participation in global markets lags behind that of larger firms.
since these are likely to produce more accurate estimates with less risk of overestimating policy impact.
On the other hand there is the risk that this closeness may impair their independence and subject the evaluation to capture or political influence.
However, there is a risk that the discussion may engage those responsible for the programme less when it is led by outsiders,
incurring the risk of underestimating their innovation effort. In fact, innovation often occurs without the performance of formal R&d,
There is the risk that technical staff will push too far ahead of customers and lead to a product failure.
They also cannot spread R&d expenses over large sales volumes nor spread the risk of failure across multiple projects.
and increases the risk of intellectual property loss. Although only a small proportion of SMES engage in innovation activities,
there is less risk of a disconnect between levels due to bureaucracy, delays, and miscommunication. 10 SMES also vary in how much they focus on learning (Salavou, 2005.
There is a paradox in customer closeness and a risk, however, in that firms that work closely with only a few customers begin to depend mainly on their own internal 11 resources for ideas rather than seek new information from the outside.
This transfers the risk of equipment failure to the service provider and focuses on relationship-based services centered around the product and operational availability and response time in case of failure.
as the service firm's risk increases and higher levels of solution expertise must be available.
and focuses heavily on managing risk, and keeping the process on budget and schedule. Firms in the middle region of the figure offer discrete services usually on a fee-per-event basis (e g.,
Another aspect of incentives is to encourage risk taking. An individual (or team) should not be punished
A culture of risk-taking is essential for a successful innovation process. Unlike products, many services are delivered by individual employees
and risk associated with each idea. In most situations, the business analysis should include at least three scenarios:
and customization Shift downtime risk from customer to service supplier Transition from transactional to relational selling Base business model on low cost and convenience over product life Extend customer relationship deep
I find it easy to be open and honest with people from other departments Risk The degree to which the organization,
employees and managers take risk I am encouraged to experiment; we take calculated risks; we encourage trial and error Stimuli The degree to which it is understood that unrelated knowledge can impact product, service and operations improvements
I am encouraged to search externally for information; I obtain data from many different sources; we listen to suggestions from suppliers;
Contracting such work to outsiders has reputation risks and inhibits feedback and learning opportunities from the field.
It is better to overstaff inhouse personnel than risk ineffective response (Gebauer et al. 2005). ) The firm also can start to offer services where its installed base is most dense,
and disadvantages (unable to spread risk across projects, can't afford to fund log-term R&d).
Nevertheless, the small-and medium-sized enterprises of Germany have not been able to overcome the risks inherent in a high degree of specialisation,
Benefits could include gaining a larger share of the target market, risk diversification, or access to vital information about potential inputs or market opportunities.
professional risk evaluators for new technologies and new business; and rapid access to secondary markets. 67.
as well as government bodies, have difficulty assessing the risk-profit trade offs of innovative ventures. Uncertainties about the technical feasibility, the time period of development, the total financing needed,
commercial risk, and managerial capacity of an SME and its proposed innovative project. Technological rating organisations can be public or private bodies,
including to ensure the rapid diffusion of expertise in technological rating that would help reduce the uncertainty that limits private sector investments in high risk innovation projects (Box 1). They may also want to consider subsidising programmes that help
Thirdly, managers advocate longterm investments that tolerate fluctuation and short-term risks, while shareholders advocate an avoidance of any risk.
This is particularly problematic, because investments in innovation and new projects involve higher short term risks. Fourthly, managers meet competitive threats by increasing their cost-cutting investments to rationalize on the firm's resources and by pushing for innovation in management and operational aspects.
The shareholders tend to think mostly of selling the firm to get the best possible return on invested capital, especially upon the slightest indication of trouble.
Creation of new knowledge in a firm involves risks (Teece and Pisano 1994, Howells and Michie 1997, Lei 1997),
by taking risks, innovating, and exhibiting proactive behaviors, and by adopting entrepreneurial postures (Khandwalla 1987).
there are risks and limitations of instability imbedded in the model, when input information is not intense enough.
A new model to identify bankruptcy risk of corporations. Journal of Banking and Finance 1 (1), 29 54.
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