There is a risk that these investments stem from political priorities, rather than from a real discovery process
A potential risk of basing priority decisions mainly on future potential is that regional and national policy makers might opt for priorities that are not backed up by local capabilities.
and other stakeholders when taking sensible risks and trying new things. Recommendation 10 Research area Encourage research on the implementation process of ICT-ELI,
Research reveals that organisational risk aversion, conservative cultures and excessively hierarchical arrangements constitute key barriers for scaling up ICT-ELI (Kampylis, Law, et al.,
and risk taking (73.3%).%)Changing practices (i e. developing a culture of innovation) is a long and complex process that requires, among other conditions,
and other stakeholders when taking sensible risks and trying new things. 120 73.3 32. Developing long-term strategies to advance the capacity of school leaders to adopt
and other stakeholders when taking sensible risks and trying new things, while for policy/decision makers and others it is:
and other stakeholders when taking sensible risks and trying new things. 73.3 120 21. Encouraging research on the implementation process of ICT-ELI, focusing on the possible learning gains. 72.5 131 As can be seen from the table above,
and other stakeholders when taking sensible risks and trying new things. Promoting diversity in ICT-ELI by funding a number of pilots in different contexts and with diverse implementation strategies.
and other stakeholders when taking sensible risks and trying new things..8. 8 5. 0 5. 8 14.2 24.2 49 49.2 73.3 Developing long-term strategies to develop the capacity of school leaders to adopt
and other stakeholders when taking sensible risks and trying new things. 6. 12 52 6. 19 27 5. 67 24 5. 88 17
since there is a risk of losing compatibility with historical data. However, if the definitions in the standards are not clear,
SMES face a competitive disadvantage compared to larger companies in the participation in public procurement due to the difficult application procedures, a lack of awareness and the greater risk of investment in SMES.
The EIF, a first link in the risk-sharing chain, shares some of the risk with financial intermediaries in the participating countries.
A high risk of lending to SMES can emerge from the uncertainty of their investments in certain knowledge-related activities,
The EIF reduces its local partner's (financial intermediary) exposure to risk, in order to stimulate the provision of debt finance to SMES at local level.
environment and risk prevention and access to transport and telecommunications services of general economic interest. http://ec. europa. eu/regional policy/thefunds/regional/index en. cfm#http
Smart specialisation is based on the premise that spreading investment too thinly across several frontier technology fields risks limiting the impact in any one area. 5. 1. 2 Potential Regional Benefits Developing
The Cignifi business model is founded on the idea that Mobile phone usage is not random it is highly predictive of an individual consumer's lifestyle and risk.
Such a collaborative early-warning and earlyaction system shows how data sharing could be considered a business risk mitigation strategy for operators in emerging markets.
To mitigate the potential risks, all stakeholders must see tangible benefits from such data sharing. These stakeholders include not just the public and private sectors
Hence, a balanced risk-based approach may be required in the context of what is under discussion here,
In return, data users would be permitted to reuse personal data for novel purposes where a privacy assessment indicates minimal privacy risks.
. 2011), Out of sight out of Mind-How Our Mobile Social network Changes during Migration. 2011 IEEE Third Int'l Conference on Privacy, Security, Risk and Trust and 2011 IEEE Third Int
Rewards and Risks of Big data (B. Bilbao-Osorio, S. Dutta and B. Lanvin, Eds..References 220 Wesolowski, A. and Eagle, N. 2010), Parameterizing the Dynamics of Slums.
and understand risks as rapidly as new markets emerged. The opportunity for digital technologies to create new businesses is real,
to do that Resistance to new approaches this is the way we've always done it Digital Transformation threatens current power structures I will lose influence in my organization Internal politics it doesn't have the right political support Risk aversion it's not worth the risk
Another said that the pace of digital transformation demanded such speed that it is at risk of diluting employee morale.
and social exclusion-at least 20 million fewer people in or at risk of poverty and social exclusion These goals are seen as strongly interrelated
) 10toe 33.6 toe (2012) Early school leaving in%<11.3%17.3%(2013) Tertiary education in%26.7%22 8%(2013) Reduction of population at risk of poverty or social
and the sustainability and adequacy of Field of action 1 Field of action 4 Page 29 of 170 Issue Rationale Field of Action to Support the pension system is at medium risk
employment information availability, enhance social program efficiency to reduce the risk of poverty Field of action 1 Field of action 2 Field of action 4 Implementation Of The Precautionary Programme
and their active involvement when they return home. 2. 2. 3 National context Cyber security Approach in Romania Risks of cyber incidents occurrence are caused by human or procedural reasons.
vulnerabilities and cyber security risks and promotes Romania's interests, values and national objectives in cyberspace.
will work to strengthen expertise in cyber risk, by fostering synergies between different action plans on cyber security (military and civil, public-private, government, non-government;
Operative Council for Cyber security (COSC) Strengthening the partnership between public & private sector (Operational) Developing cooperation between the public and private sectors, including by fostering the exchange of information on threats, vulnerabilities, risks,
and minimizing risks related to the use of cyberspace Responsible: Operative Council for Cyber security (COSC) Boost the Research & development capabilities in cyber security (Enabler) Fostering national R & D capabilities and innovation in cyber security Responsible:
vulnerabilities and risks of using cyberspace Responsible: Operative Council for Cyber security (COSC) Development of educational programs (Enabler) Educational programs in the forms of compulsory education on the safe use of the Internet and computing equipment Responsible:
Understanding and managing risks related to the adoption and integration of cloud computing capabilities into public bodies is a key challenge.
and some cases to rethink, their processes for assessing risk and making informed decisions related to this new service delivering model.
in the absence of financial resources for advertising and communication, have higher risks of becoming insolvent o Enabling the SME's to:
Personal lifestyle and environmental impact factors are the most significant risk factors influencing health status. ICT ehealth Definition ehealth is a relatively recent term for healthcare practice supported by electronic processes and communication.
decreasing the risk of fraud and preventing inappropriate medication (electronic prescription). Responsible: Ministry of Health with support from Ministry for Information Society Effective management of information generated by the IT system Analysis of a significant volume of data generated in the healthcare informatics systems
National Indicators pertaining to einclusion In 201110,40. 3%of the Romanian population was facing the risk poverty
%)To a total of 8. 63 million people at risk of poverty or social exclusion in 2011,4. 74 million people were facing the risk of poverty.%
Ministry for Information Society The main informatics risks and threats can be classified based on several criteria.
So, a first criterion highlights the risks and the threats related to the following: Data integrity intended alteration of the stored data
All the risks and threats mentioned above represent critical situations which can affect in a first instance citizen trust in the utilization of the electronic commerce systems.
along with a list of risks and mitigation actions Evaluate This phase will assess the effectiveness of an initiative and its efficiency during and after implementation.
and may also contain conscious risk-taking. Participants of the Local Research Priorisation Working groups: representatives of knowledge bases:
and there were instances where conscious entrepreneurial risk assumption was applied. 4. 3. 2. National Priorities Within the national research priorities,
conscious risk-taking or the technologies existing at the local level (e g. materials science, nanotechnology, biotechnology,
and conscious risk-taking prevail therein (for example, can the given smart technology be found in that county,
Owing to the risk potential risk factors of the RDI activities, one of the most typical form in the context is the nonrepayable grant.
Because of the high risk, ideas at an early stage which can be financed hardly on a market basis,
which tolerate implementation risks: typically, these are nonrefundable direct financial grants. The necessary support instruments must be provided to the start-up and spin-off undertakings,
Through public-private partnerships, the procurement process based on shared risks and benefits facilitates the development of new technologies,
opportunities, value is given to creativity, knowledge and risk-taking, the domestic business opportunities are given a value,
The players of the policy decision-makers who are willing to take risks are need in of a tool
as well as averting the risks of misuses that inevitably accompany any step of human evolution. I am thankful to the authors for this startling journey into a nascent field
For example, even the European Smart Cities project risks being dominated by US companies such as IBM, Google and Ciscos, partly because of the lack of alternatives.
A major risk for the Future Internet is the realisation of the‘Big brother'scenario, with big industrial players (mainly US-based) reinforcing their dominant position by implementing platform lock in strategies,
and by striking strategic alliances between the largest Over-The-Top (OTT) iand largest network operators, there is a risk that the innovation ecosystem will become more closed,
We found that the Authority actively monitors its exposure to risks related to technology approaching end-of-life.
This will enable engagement with stakeholders regarding risk cost, prioritisation and funding. 1 ttp://www. nhsbsa. nhsh. uk/Prescriptionservices/809. aspx 2 The Mcdonnell douglas hardware
in order to provide further assurance that risks arising from the move could be mitigated. The information governance arrangements are thorough and in line with NHS policy.
However, the IT staff we spoke to are unaware of the arrangements and accreditations to deal with the risks of cyber threat, fraud and other security threats. 6 Part One NHS Prescription Services:
or deliver a service in a different way. 1. 2 Public services that rely on legacy systems face a number of risks.
the government's stated preference is to extend the lives of such systems rather than face the risks and costs of replacing them.
service performance over time, with associated costs and risks; and an enterprise analysis8 measuring how mature the organisation is in managing,
and to address impending risks relating to technology approaching end-of-life. 2. 8 To meet the capacity demands,
Whilst this remains the case, the Authority is unlikely to be allowed to invest in the electronic submissions enhancements systems that could combat the risk of such frauds.
and address impending risks relating to technology approaching end-of-life. The Authority then took a sensible approach towards implementation with a feasibility study before moving to a controlled pilot
The legacy system is hindering compliance with NHS information standards 4. 9 The Authority has comprehensive corporate governance arrangements and a corporate risk register,
which describes strategic risks, their probability, potential impact and the agreed mitigations. A prescription pricing service programme board which includes representatives from the business
and the IT group meet monthly to discuss service issues, enhancements and risks, and ICT is discussed during these meetings. 4. 10 Risks discussed at the service area programme board feed into the corporate risk register.
An'end-of-life technology'risk register is maintained also that logs the risk and impact of a technology component that is approaching
or is already end-oflife. This ensures that the Authority is monitoring its exposure to risks related to technology that is approaching end-of-life in current systems. 3 4 NHS Prescription Services:
the impact of legacy ICT Part Four 23 4. 11 The Authority has adopted an enterprise architecture approach to ensure alignment of IT and business services,
in order to provide further assurance that risks arising from the move can be mitigated. 4. 26 The information governance arrangements are thorough and in line with the NHS policies,
However, the IT staff we spoke to were unaware of the arrangements and accreditations to deal with the risks of cyber threat and fraud and other security threats.
the impact of legacy ICT Part Five 31 Figure 10 Lessons from the prescription pricing service Lessons Commentary Senior management ownership of IT risk leads to proactive decisions
and address risks created by legacy systems The legacy issues and risks identified in the CIP business case that led to the decision to implement CIP still exist.
The inability to scale the system to meet demand; the lack of flexibility to adapt to changes of business rules;
and prioritise changes in business requirements and legacy ICT capabilities, risks and issues, opportunities and threats.
Risk management Risk management processes ensure that the business risk appetite is documented and legacy ICT and information assurance related risks are identified
and regularly reviewed, documented and managed at a sufficiently senior level, with mitigating arrangements agreed.
Key stakeholders have clear visibility of the level of risk exposure. Implementation Lifecycle management The system is readily adaptable to changing business needs
with risks and issues managed effectively. Management of supplier services Outsourced services are managed actively and regularly market tested to ensure value for money,
External security risk assessments are carried out regularly. No bespoke security systems or processes are required. Technology Applications The legacy ICT system fully integrates with the wider ICT environment using standard protocols or common application programme interfaces.
organisation and innovation and investment and change entails risks and costs as well as bringing potential benefits.
which may entail proportionally greater costs and risks for SMES. In addition, smaller firms may have fewer incentives to integrate their business processes than larger firms,
and avoid the risks associated with new investments and new business models. Strong links with customers and suppliers along the value chain as well as the lack of competition in the related market may also discourage businesses from introducing new business models
because firms that conduct e-commerce have to live with the risk of computer viruses and other system failures.
Small businesses can risk being sued in multiple jurisdictions under a number of inconsistent laws. More generally
Many commercial factors inhibit small business debt financing including high transaction costs for small loans, lack of sufficient collateral and high risk in innovative start-ups and micro-enterprises.
In the first place, they should help SMES self-assess the costs and risks as well as opportunities related to ebusiness.
new technologies and new sales channels can often better meet the needs of at-risk social groups such as the elderly
offering a video-sharing site would probably be too great a commercial risk. Other intermediaries also maintained that the liability exemptions of the E-commerce Directive are essential for their trust in online activities.
or for taking down or blocking legal content NTD procedures do not exclude a risk that wrongful notices are provided to intermediaries (in good faith or bad faith) and that intermediaries,
Any filtering approach brings the risk of a technological"arms race"between those imposing filters and pirates.
On the one hand, filtering can, depending on the technology used, risk restricting freedom of speech by blocking legal content by mistake.
This does not always stop them from buying medicines online, with the result that they, often unconsciously, buy from illegal sites, with all the attendant health risks.
it will continue to analyse the risks related to the online sales of medicines in the context of the transposition
or extra risks linked to having to comply with rules different to those of the Member State of establishment.
In addition, online service providers have invoked as objective justifications for different treatment the perceived insecurity of transactions and the higher risk of fraud and non-payments in cross-border transactions
First of all, risk aversion tends to make investors and banks shy away from financing firms in their start-up and early expansion stages.
Additionally, the Directive entails new harmonised rules on the passing of risk in sales contracts and the default timelimit for the delivery of goods as well as a ban on hidden charges,
PDF 87 The cost of payments can be correlated partly to the risk of fraud, which seems to be very significant for both online and offline payments,
In addition, the delivery deadline for goods and the question of who bears the risk of loss or damages of shipped goods are two of the main difficulties encountered by consumers in online B2c-transactions
Article 20 provides that the consumer will be protected against any risk of loss or damage of the goods occurring before he has acquired the physical possession of the dispatched goods. The Consumer Rights Directive,
such as the time, method and place of delivery, carriage of goods and the effects of delivery on the passing of risk.
Furthermore, the issues of accountability for delivery and transfer of risk are resolved only to a certain extent at EU level (see Chapter 4. 4. 1). The complaint mechanism procedure is therefore not uniform or harmonized,
because the Internet continues to be perceived as a risk area, generating potential disputes which cannot be solved easily partly because of the nature of this virtual exchange zone.
the benefits and the barriers these but the studies focusing on the risks of open partnerships are scarce.
but also the diversity of risks entailed, raising awareness of this framework of uncertainties. Within the study, our work highlights that open innovation in is impeded by risks related to technology, market place, collaboration among partners, financial sources availability, clients needs, workforce, knowledge and intellectual property rights.
By undertaking this study we aim to contribute to the scarce literature on open innovation risks
and to shed light on the factors that a firm needs to approach in order to foster a culture for open innovation and, in the same time,
and especially on their potential of efficiently managing the risks this cooperation involves. To our knowledge, there is a limited amount of empirical research on the risk management of open innovation processes.
and drawbacks that such partnerships entail and thirdly to define a comprehensive structure of risks residing in open innovation,
by raising awareness on the factors that help mitigate the risks met by companies in their innovation process.
we consider worth addressing this deficiency through the challenge of defining a theoretical framework of risks encountered in external partnerships.
since Chesbrough (2003) until today and the relatively scant literature affiliated to open innovation risks.
improving product quality, accessing customer and supplier expertise outside the organization, sharing risk in product and service development,
and the risk involved with the development of new products and services (Chesbrough 2003; Reichwald and Piller 2009.
reduced risk as others put their human capital to work on risky propositions; and accelerated time-to-market as innovation is freed from the shackles of the cumbersome large-company financial,
to effectively exploit diversity and to share risk. Innovation collaboration allows organization to gain needed skills, technologies, assets,
and risks will be reduced by shared partnership. ACTORS ON THE OPEN INNOVATION STAGE In the new models of innovation,
'BARRIERS TO OPEN INNOVATION The scarce literature written about risk management dimension in open innovation projects is focused more on highlighting the barriers for a firm to approach open innovation rather than on depicting the risks which accompany such collaborative arrangements.
Therefore, knowledge sharing is a potential risk because the organization may lose its competitive edge over its competitors.
2009) shows that risks such as loss of knowledge, higher coordination costs, as well as loss of control and higher complexity are mentioned as frequent risks connected to open innovation activities.
In addition, there are significant internal barriers, such as the difficulty in finding the right partner, imbalance between open innovation activities and daily business,
cost reduction, knowledge gain, sharing risks and diversification of resources. We found that knowledge acquisition is perceived both as the highest reason for external partnerships but also as the main advantage of open innovation,
Since innovation is closely related to higher risks, the choice of involvement in external partnerships is a means of sharing the risks of the firm's projects.
However, as later detailed, this open innovation projects may also entails a wide range of risks
which need to raise awareness of. Internal resources are limited often, insufficient and unavailable for large innovation projects.
OPEN INNOVATION THE BAD While an open innovation strategy targets to decrease the risk related to the innovation process,
it may also entail an increase of risk related to collaboration among different partners. However, there is a scarcity of research regarding the costs and barriers of open innovation.
At the same time, collaboration inherently brings along risks and costs. Our research distinctly points out to a paradox:
An open innovation strategy aims at decreasing the risk inherent to the innovation process but at the same time it may increase the risk inherent to collaboration with different partners (Tantau and Coras, 2013).
Our study reflects that open innovation is hampered commonly by constraints related to technology, market place, collaboration among partners, financial sources availability, clients needs, workforce, knowledge and intellectual property rights,
as graphically reflected in Figure 2. Figure 2. Open innovation risks Source: the authors The USV Annals of Economics and Public Administration Volume 14, Issue 1 (19), 2014 44 Figure 3 depicts in further detail the major risk drivers
(internal and external) for a company collaborating. Since collaborating in joint projects is considered the most economical way to access knowledge form outside the boundaries of one's firm,
Knowledge sharing risks are correlated strictly with the lack of trust in the partner and poor communication among collaborators about common goals and strategies
Retention risk acts as a major constrain since turnover among work force can alter the quality of the partnerships and lead to major knowledge loss.
People related risks are regarded as highest threats, since they are the major actors and assets in collaboration projects.
reluctant to change and innovation, acts as a major risk and its impact is even greater
which shows little support for innovation and low awareness of risks. Undertrained workforce is a threat for a small firm
Figure 3. Details of open innovation risks Source: the authors The USV Annals of Economics and Public Administration Volume 14, Issue 1 (19), 2014 45 The constant changing needs of the customers pose a significant challenge on firm
Collaboration among partners, the core process of open innovation, entails a variety of risks that alter the purpose.
Collaboration risks are connected highly with knowledge loss and opportunistic behaviour, if partners allow each other to build skills in area important to their business
The risk of technology leakage to rivals and a loss of control over the innovative process is an ever growing concern.
in order to avoid possible outsourcing risks. Highly specific to emergent countries unethical behaviour is common and acts a major business risk.
Open innovation is impeded also by a high level of bureaucracy and firms find it harder to cover the administrative costs entailed in the external partnerships.
such partnership holds significant risks residing not only in the failure of collaborations but also in potential loss of competitive advantage should the critical internal competencies
and overcoming the risks encountered in the process can become a huge competitive factor for companies.
This paper has explored empirically the risk agenda companies encounter in the process of open innovation. Within the research, our work highlights that companies are allured to enter external partnerships to enrich their knowledge base,
to share risks that go along with their businesses. While collaborating, we conclude that firms are impeded by risks related to workforce
knowledge sharing, complexity of collaboration, market tensions, client pressures, access to finance, technology advances and demands related to intellectual property rights protection.
While generally scholars have focused their research of risks in open innovation on large companies rather than SMES,
we consider critical for further research the development of risk mitigation models for open innovation risk.
Southwestern Cengage Learning. 2. Brunold, J. and Durst, S. 2012)" Intellectual capital risks and job rotation",Journal of Intellectual Capital, Vol. 13 (2), pp. 178
Tantau, A. And Coras, E. 2013) A risk mitigation model in sme's open innovation projects, Management & Marketing, Vol. 8, No 2 (30), p. 303-328 34.
curiosity, creativity and courage (for calculated risk-taking. It requires the capacity to act. It comes naturally to some people,
Experiments and rapid prototyping reduce the risk to tolerable levels, and they are driving for the new.
where the risk of failure is not that costly. What is also interesting is that the scale up cost is likewise close to zero!
and innovation by risk-taking‘entrepreneurial states'has played a key role in promoting technological innovation,
pull-need driven Closed innovation Open innovation Calculated risk High risk Investment companies are now adapting new processes and business models,
and taking risk for the R & D in order to create competitive advantage for business purposes.
While investors secure property rights in potentially innovative products and firms at a comparably low financial risk
and to jointly take risks in the uncertain route of innovation. A changing role for knowledge organisations Many relevant aspects in the relationship between open innovation and academia can be found in the context provided by the concept of 3rd Generation Universities.
and join the internal discussion or as a manager to take the huge risk to not listen to Silicon valley?
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