| Risk (1943) |  |
| Risk management (88) | |
| Risk (1943) | |
| Risk management (88) | |
30 1. 4. 1. Biological risks of nanoparticles...32 1. 5. Agriculture and food industry...
There is the risk of knowledge lost, lack of transfer in the case of retirement or turnover.
Learning from nature and applying this knowledge to innovation may reduce its impacts and risks,
or telephone equipment that are not yet at the end of their lifecycle. 5 http://www. cancer. gov/cancertopics/factsheet/Risk/cellphones.
and lower risk of post-op complications but their bill is significantly higher. In a Swedish TV series, Real humans7, the hubots (human robot) can decide
Daniel Byman (Professor in the Security Studies Program at the Edmund A. Welsh School of Foreign Services at Georgetown University) states that drones offer a comparatively low-risk way of targeting terrorists
for example, allow for a scheduled production of nano-or microcompounds or biomolecules with new health risks, both environmental or geopolitical,
2) mandatory evaluation of benefits and risks (medical, the real exposure according to the actual wear of the building material, etc..
Other groups work on nanomedicine for combating infections from antimicrobialresistant bacteria and on tissue engineering. 1. 4. 1. Biological risks of nanoparticles Biological risks of nanoparticles,
or risk of the nanoparticle because it is the particle with its corona that the biological system responds to.
the risk evaluation formula is simple: exposure multiplied by toxicity. In the absence of exposure there is no risk,
as if the toxicity were nonexistent. In the case of nanomaterials, the toxicity is unknown. The challenge is to reduce exposure,
Researchers point out the absence of data related to the risk of the skin contact or the ingestion of nanoparticles BAT 14.
and to safeguard the Union's citizens from environmentrelated pressures and risks to health and well-being ECO 14a.
and monitoring them along the way to reduce the risk and impact. Evaluation of the target market
or simply for minimizing the environmental impact, the related risk and the choice of raw materials and the recyclability facility at the end of life.
ability to evaluate the 5d impact and potential risk; knowledge of ICT possibilities; knowledge of intellectual property;
imagination and risk taking, making links between people who know and fields. Creativity requires stimulation and permanent questioning.
A distinction between an useful innovation and one that simply allows one to make money could help us better. 11 http://www. cancer. gov/cancertopics/factsheet/Risk/cellphones.
and take risks. Beylat and Tambourin BEY 13 state that the innovation policy should strongly encourage entrepreneurship and value creation.
then there is the risk that only a few advanced clients will buy it. It was a case of Apple Lisa.
and include the risks of capture by vested interests, lack of information on the economy and strong asymmetry with private actors,
and risk-taking by all involved, including policy makers. The knowledge about complex systems and their behaviors will be improved
The risk level of this initiative is rather high, but by dividing the process into phases,
the risk is managed. One of the targets of this scheme is to create new markets through the disruptive approach.
Its main aims are to ensure a high level of protection of human health and the environment from the risks from chemicals
and ready to take risks to succeed. The 180 The Innovation Biosphere capacity of managing growing risks is required also to manage both generated by human and growing natural risks due to climatic changes.
While many efforts are focused on educating and training managers of sustainable development, it is not enough on the new capacity of double connection between environment and innovation:
, 61,158 risk, 19,32, 33,56, 59,71, 73,76, 109 robots, 14,17 20,24, 42,53, 77,89, 132,135, 169,171, 173 small businesses, 55,79 space, 8
Learning from nature and applying this knowledge to innovation may reduce its impact and risks,
The open factory as outlined below, is designed as a low risk prototype environment for experimenting with the new concepts
or risks of data loss, may prevent organizations from (successfully) implementing SM in a business process life cycle (Kemsley, 2010).
and brings with it a series of potential risks (Trkman & Desouza, 2012). These are especially important
Yet, some risks apply to internal use of SM As well as one of the authors of this article was told by a chief information officer of a large American company,
A better understanding of the possibilities of SM use in BPM and the potential risks accompanying them can aid practitioners in their SM adoption.
Knowledge risks in organizational networks: an exploratory framework. The Journal of Strategic Information systems, 21 (1), 1 17.
as well as related processes such as risk assessment and price calculation. In this chapter, we demonstrate the insurer's process innovation with smartphone-based insurance telematics,
Insurance telematics has helped insurers to use other variables to improve their risk assessment and price calculations.
as well as attract favourable risks. As a result, the claims costs will be reduced, which in turn will enable lower premiums for certain customer segments.
UBI leads to premium discounts for the low risk drivers. They can also receive value-added services,
when it is crowded less and/or with reduced risk. In case of an accident, drivers can also use their profile of driving behaviour to prove safe driving behaviour to insurers.
The information collected by the measurement probe can be used by the insurers to improve their risk assessment, and thus
, the risk assessment process and price-calculation process, which results in lowering risks and obtaining more information on driving behaviour and dynamic statistics.
By collecting information on driving behaviour, customer segmentation will be improved, for example, by identifying the dedicated customers;
Improve knowledge regarding car drivers/customer risk-behaviour; Improve risk-assessment activities; Strengthen the insurer's brand;
Enable forecasts of traffic flow and congestion and identify the dangerous spots in traffic. In addition, in the long term, the initiative may Contribute benefits to society (traffic safety, sustainable and ecological driving behaviour.
Because of the insurance telematics solution new capabilities for risk assessment was enabled, such as driving-behaviour. The aim was to capture driving behaviour as early as possible in the marketing and sales process,
This resulted in a higher integration between the risk assessment and marketing and sales processes.
The processes such as risk-assessment process and price calculation were influenced also by the innovation of the UBI
and the price calculation is done based on risk-criteria data i e. age, number of years with a driver's license and type of car that the end user wants to insure.
The design focused on the process interface Risk Criteria-Age-Postal code-Number of years with driving license-Car type Complementary Risk Criteria-Driving behavior (Breaking, Acceleration
incentives regarding eco-driving and safe-driving behaviour (Fig. 2). Risk-calculation information such as the road-type and time of day of the driving was sent also to the insurer.
These parameters are vital for risk assessment and price calculation. But for usability reasons, these parameters were presented not to the end user in the feedback
and an insurance letter was sent then out to the customer (Fig. 4). The risk assessment and price calculation are influenced also by the UBI.
because the usage grade was considered as an important risk-assessment factor. The usage grade is the number of miles driven
The usage grade and driving behaviours are the complementary parameters for the risk-assessment process
) The complementary parameters for the risk-assessment process and price calculation regarding exposure were time of day, road type and distance driven.
These exposure parameters have a high effect on risk assessment. For example, a driver who drives in rush hours on a road type with a high frequency of collisions
and injuries is assumed to be exposed to a higher risk than a driver who drives at a time
2) the To-be process provides more accurate and personalized risk assessment for individual drivers;
Risk assessment Age postal code, number of years of driving, gender, car type, previous insurance records/claims Driving behaviour (breaking, acceleration, speeding) Usage grade (actual driving distances
road type, distance driven) The rich driving data help predict driving risks, and the loss costs for highest risk driving behaviour.
The new process improves the assessment quality. More accurate and personalized risk assessment can be generated.
Price calculation Based on the static demographic data and historical statistics Based on the dynamic changes of driving behaviour (UBI) Customers get an accurate and personalized price.
The core technology of the smartphone-driven insurance telematics has yielded the advantage of improving risk assessments activities by collecting
The insurer did improve the knowledge of predicting driving risks. Nonetheless, the media criticized the insurer for being unethical
or accountable for capabilities required for the innovation lacked the necessary motivation, competence or empowerment/mandate, due to a stable business environment and low risk tolerance,
Christensen (1997) pinpoints that a market leader with a low risk tolerance, who is acting in a stable business environment with a functional business model
to predict costs, risks, and delays, to recommend actions to avoid inefficiencies, and to support redesign (e g.,
Risk of failure is high and questions abound: What is a good innovation idea? Which idea should be implemented?
133 innovation decisions are noted as above, complex problems under uncertainty and typically concern high risks of failure, potential lack of return on investment or even disruption or failure of entire business models (Lucas
Risk of failure in these decisions is high, but avoidable. Evidence-based decision-making increases process innovation reliability, credibility and, ultimately, the chance of success,
in order to prevent risks rather than to simply react to them. Castellanos, Salazar, Casati, Dayal, and Shan (2005) present a business operations management platform equipped with time series forecasting functionalities.
Enabling Process Innovation via Deviance Mining and Predictive Monitoring 151 Other approaches focus on generating predictions to reduce risks.
and van der Aalst (2013) for example present a technique to support process participants in making risk-informed decisions by traversing decision trees generated from the logs of past process executions.
and Wynn (2013) propose an approach for predicting time-related process risks by identifying indicators observable in event logs that highlight the possibility of deadline transgression.
e g. from reductions in modelling costs, modelling time and modelling risk, as reference models can represent proven solutions (Becker & Meise, 2011).
Otherwise, there is a risk that readers misinterpret certain aspects of some models. 4 The Icebricks Approach The icebricks tool is a process modeling software prototype developed to support BPM consulting projects in the retail industry.
in order to avoid the risk of not being able to solve the issues in time for departure.
and potential risks. 3. 1 Primary Notation The purpose of a process map is to show in an abstract manner how an organization operates without necessarily going into process details (Malinova & Mendling, 2013).
such as the Manage enterprise risks Make insurance offer Solvency Capital Requirement processes Make insurance policy Process bark file payments Collect insurance payment Optimize investment portfolio Manage HR Manage Finance Handle insurance claim
Nonetheless, there is the risk that a process map can be designed in a misleading way. Research on innovation and technology transfer has identified a problem of sticky information,
and to reduce the associated risk. Consequently, the singular and measurable goals that will lead to the organization accomplishing these three objectives are:
in order to create the basis for increasing efficiency Achieve common understanding over all processes Enable easier updates of process-relevant information Use process models as work manuals for employees Reduce process-related risks Measure
& Ku hnel, 2013) that are an essential part of any risk and compliance management. For example, enforcing separation of duty
while the former is usually capable of enforcing compliance without adequately taking economic risk (e g.,
but this is inherently combined with a high risk of violating compliance goals (Sackmann, 2011). For realizing the opportunities for both business process and compliance management,
In Proceedings of the ARES conference Workshop on Resilience and IT-Risk in Social Infrastructures (RISI 2011.
as well as (3) the use of a process architecture or hierarchy of layered process models to help orient (new) employees or estimate the impact of risks and changes.
This comprises signing legal contracts and issuing the power of attorney whereby Disciplinary Responsibility also bears the risk of possible organizational fault.
Thus, the Administrative Responsible also bears the risk of organizational faults occurring. Theresource Responsible is accountable for the process accomplishment in the respective organizational unit.
, 132,133, 135,142 Research-as-a-service, 130,132, 134 135,141, 142 Research bandwidth, 135 Results-chain, 234 238,242 Results-oriented, 234,238 Risk assessment
Pre-commercial procurement where the risks are shared between public procurers and firms-can be used to promote innovation while respecting State Aid rules.
Entrepreneurs take risks by offering new solutions in the market in the face of uncertainty about
processes and business models to fit at the risk of failure. The entrepreneur innovates by experimenting. l The entrepreneur as a resource shifter.
discovering opportunities, taking risks, shifting resources and creating breakthrough innovations and these roles moreover are not mutually exclusive.
Knight, F. 1921), Risk, Uncertainty and Profit, Chicago University Press, Chicago. Jensen, M.,B. Johnson, E. Lorenz and B. Lundvall (2007), Forms of Knowledge and Modes of Innovation, Research Policy, Vol. 36, No. 5, pp. 680-693.
Is there, for example, a risk that increased corporate open innovation activities in the UK and abroad result in a drop in overall investment in fundamental research and development by organisations in the UK?
but all risks including full development costs are borne also by the single organisation. 12 Missing an open goal?
b) defray some of the risks associated with innovations by definition, you cannot be sure a particular innovation will be value-adding,
Type of collaboration Typical duration Advantages Disadvantages Subcontractor/supplier relations Short term Cost and risk reduction Reduced lead time Search costs, product performance and quality
it represents a deliberate strategic move to balance the potential for gathering all gains from control of an innovation value chain against the possibility of sharing that risk (and the rewards) with other organisations.
Engaging in open innovation particularly where they interact with large corporations remains a clear risk for SMES.
support for intramural R&d is vital to reduce the risk of downward spirals in knowledge investments
or may be unwilling to take risks in establishing that business; or that financial institutions may be unable to accurately assess the risk of lending to small firms
or may simply be risk averse; or that there are imperfections in the market that restrict competition.
potential scaling companies (mediumhigh risk/medium-high return) as well small exporters often serving niche markets with a lowermedium risk/low-medium return).
State intervention was provided on the basis that the private sector on its own would not provide equity capital for high risk/high growth companies,
make sufficient investments across a range of projects to diversify risk; to make follow-on investments;
or may be unwilling to take risks in establishing that business; New innovative firms may produce technological
Financial institutions may be unable to accurately assess the risk of lending to small firms or may simply be risk averse;
In periods of high unemployment, government intervention may be triggered to address the risk that some individuals may become long-term unemployed
however over time this evolved into a risk-reward strategy involving state investment in the equity of high risk companies.
high risk/high return (in strategic sectors/new technologies; 43 Technically, EU State aid regulations determine that a HPSU can be treated
low-medium risk/low-medium return (often rural-based, serving niche markets. Growth and Scaling Divisions work with the client to achieve €1m, €3m and €5m, €20m,
investment risk is pooled between multiple parties, mitigating or overcoming the often sub-optimal allocation of funding by capital markets to start-up firms of this type.
In part, this represents a more risk-averse approach by Enterprise Ireland by concentrating more on those companies with clearer HPSU potential.
or may be unwilling to take risks in that business. The Enterprisestart programme aims to increase awareness of and participation in Enterprise Ireland programmes in all regions, by making information and training more easily accessible.
or may be unwilling to take risks in that business. The Enterprisestart programme aims to increase awareness of and participation in Enterprise Ireland programmes in all regions, by making information and training more easily accessible.
high risk, high growth potential and scaling companies. This involves investing substantial amounts of money over the lifetime of a company
whereby the State shares equally in any risk and returns associated with investments. The current Scheme, 2007-2012, places a strong emphasis on stimulating
which arises as many private VCS are not willing to invest due to high transaction costs, shortages of exit options and the greater risk involved78.
State intervention was provided on the basis that the private sector on its own would not provide equity capital for high risk/high growth companies,
VC firms are experiencing greater difficulty in raising new funds as investors have become more risk-averse post the global financial crisis.
The State shares equally in any risk and returns associated with investments. The advantage of pari passu is that it is driven commercially
and sharing risk. 8. 6 Outputs The primary outputs of the Seed & Venture capital Scheme are:
which diversifies the risk of investments; The resources to make follow-on investments in portfolio companies as they grow.
and there are indications that each of the funds will make sufficient numbers of investments to spread their risk across their portfolio
Furthermore, the impact of the crisis on the industry persists particularly in regard to the increased risk aversion among institutional investors such as pension funds.
whereby the State shares equally in any risk and returns associated with investments. Data on this is not available due to commercial and confidentiality considerations102.
and/or Financial institutions may be unable to accurately assess the risk of lending to small firms
, sharing costs, sharing risks, faster product introduction, etc. to small firms in low-and medium-tech industries.
Facing the risk of bankruptcy, reinventing the barometer was the only way out. With the help of a few innovation partners and subsidies from IWT (the Agency for Innovation by Science and Technology in Flanders) the open innovation journey started.
Accell took the commercial risk to buy the B lite at a predetermined price if Curana and its partners succeeded in producing the product before a particular deadline.
and small innovation portfolios such that risks associated with innovation cannot be spread. SMES must rely on their innovation networks to find missing innovation resources.
It is about sharing risks, investing time and money together in new concepts. A company that engages in open innovation, therefore
Open innovation is not only about sharing costs and risks but also about sharing profits equitably. 71 6. Developing an open innovation network also requires that partners manage the balance between internal management of the company and external management of the network.
sharing costs, sharing risks, faster product introduction, etc. to small firms in low-and medium-tech industries does not make sense.
or risks they take. 3. Innovation networks need to be activated continuously. Inactivity is deadly for the network strength and partner commitment.
Furthermore, large firms that license technologies risk knowledge leaks with adverse competitive effects as a consequence.
In this way, the business unit can balance the risk of increased competition in the market with the royalty income it receives from licensing the technology.
because the venture needed considerable investments which were too big a risk for VCFS 80 in an early investment stage42.
because the risk of misappropriating the technology is very real. Philips'extensive evaluation of the technology did not pose a risk for the small engineering company,
however, because Philips'was reputed as a reliable innovation partner. Philips relies recurrently on new technologies from universities, specialized research labs,
Partners may have to bear considerable risks or investments in dedicated complementary assets. In open business models,
Building strong ties to cope with environmental and relational risks. The biggest challenge in an open innovation network is the market and technological risk on the one hand and the relational risk on the other hand.
Business model innovations are high-risk ventures because a firm must search for new technologies and develop new products.
Each entrepreneur we met took risks, sometimes considerable, and made investments. Imagining a new product is one thing,
Provide the very much larger investment funds (risk money) businesses need for new products or services (or whole businesses) to go to scale.
Willingness to take risks, to change and to collaborate with others were used as indicators of an innovation culture.
A culture that supports risk taking and collaboration also supports innovation. Of the three culture-related indicators surveyed,
%0 20 40 60 80 100 Willingness to change Problem solving Project management skills Coming up with creative ideas Networking with others in your sector Willingness to take calculated risks
risks Willingness to collaborate with others on new developments Responding to changes in your market
A culture that supports innovation can be fostered through a risk-taking attitude and an encouragement for openness and collaboration across different internal teams and external partners.
but this dropped to just over 40%for willingness to take calculated risks and willingness to collaborate with others on new developments.
There are powerful disincentives to those taking on the risk of entrepreneurship and many of these are matched not with corresponding gains.
whom is willing to take risks and persevere through endless turmoil to establish each single, vibrant business.
and proactive, being willing to take some risk, and taking personal responsibility. Innovation, the hallmark of entrepreneurial opportunity, is doubted too often
Management), Mapflow (Risk Intelligence. The environment created over the last 5 years may have placed Ireland on the cusp of a similar innovation revolution.
Society's culture and attitude directly influences the individual's capacity for creative thinking and attitude to risk.
the level of risk-averseness in individuals and the proportion of new businesses started by women.
GEDI Pillar Comparison Opportunity Perception Risk Acceptance Gender Opportunity Startup Start-up Skills Risk capital Cultural Support Product Innovation Process Innovation Networking Competition
including opportunity perception (the proportion of the population that can identify good opportunities to start a business), gender (the proportion of female entrepreneurs), cultural support and risk acceptance or fear of failure.
Much work is being undertaken by the Government to promote entrepreneurial role models, foster positive attitudes to risk taking, teach basic business management and financial literacy and address skills gaps.
Less access to finance and lower levels of risk taking; Low self-confidence; Limited female networking opportunities;
Ongoing focused work will be required in such policy areas as access to finance, tax, reward for risk, administrative and regulatory burdens, exporting,
this free on-line risk assessment tool is aimed specifically at Small and Medium Enterprises and has the potential to bring about €50 million in compliance cost savings for business.
Equally, innovative products, processes and services need entrepreneurs who are prepared to take risks and develop appropriate business strategies to bring ideas to market.
This is intended is to reduce the barriers to risk taking in order to transfer IP rapidly into the hands of companies well positioned to exploit it commercially.
or operate in categories perceived by the commercial banks as being high risk. The scheme provides a 75%State guarantee to banks against losses on qualifying loans.
while at the same time providing the public sector with new, cost effective solutions, developed in a risk free environment,
TEA Female Opportunity Start-up Opportunity Freedom Entrepreneurial Attitudes Sub-Index Cultural Support Career Status Corruption Networking Know Entrepreneurs Internet Usage Risk Acceptance
Risk Acceptance Business Risk Start-up Skills Skill Perception Tertiary education Opportunity Perception Opportunity Market Agglomeration Note:
supportive environments ecosystems that enable risk-taking and catalyze enterprise formation. Well-known examples include the dedicated Research Triangle in North carolina
industry leaders are looking for ways to increase R&d efficiency and spread the financial and development risks.
Though this involvement is often necessary to reduce technology and market risks, it also creates financial
yet nearly half (45%)feel that the U s. is at a moderate to significant risk of losing its leadership position in key material areas.
At risk of some exaggeration, it seems fair to remark that due to the dedicated support available,
related risks, etc. Indeed, dominant part of the resources was allocated in the form of direct cash transfers to companies,
It underlines that the high risks that characterise R&d projects were mitigated not effectively for SMES:
The evaluation suggested that project selection process should incorporate a (compulsory) mechanism of risk assessment.
Without this commitment from the Taoiseach and his office the Action Plan process would risk becoming simply another plan that gathered dust on a shelf.
Such adverse cost developments put all of the recent hard-won competitiveness gains at risk. We need to sustain our efforts to get to a top five ranking in competitiveness.
to the extent that it becomes involved in risk measures, with the EIF also. The SBCI's participation in EIB Taskforce of National Promotional Banks is indicative of the type of engagement that is now possible with the establishment of a national SME-focused promotional lending institution.
the advantages and risks associated with them, and how best to leverage these different sources including the potential synergies between different financial instruments.
and conditions of payments runs the risk of cutting firms off from this type of funding rather than making it more accessible.
and to reduce the risk of project failure. NSAI) 114 10. Stimulating the Domestic Economy The preceding sections outlined the measures the Government will take in 2015 as part of our continuing export-led approach to employment generation.
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