and the threat of climate change and the scarcity of natural resources are increasingly more noticeable. the balance between people requiring care
live in a stable society based on equality, security, equitable distribution and job satisfaction provide the best starting point for increased innovative ability
and productivity. this is not least due to our capacity to exploit scarce resources, among other ways, by means of new technological and organisational developments based on
requires the ability to take risks, think innovatively, see possibilities, and do something with them by effectuating them into the marketplace. entrepreneurs also depend on
their report The british Chamber of commerce indicated that UK productivity is under threat because small and medium sized enterprises (SMES) are failing to exploit the benefits of
-ies to evaluate their cost-effectiveness, risk analysis, design and development, new policies and pro
fire suppression and physical security related. At this point, the participation of experts for recommendations and solutions was necessary.
disruptions in service, security breaches or fire damage was reduced significantly "Innosupport: Supporting Innovation in SMES "-2. 1. Audit tools (Technology Audit
W), and those external to the firm can be classified as opportunities (O) and threats (T). Such an ana
-tunities and Threats from its external environment. Only when these four critical information elements are elaborated well and known,
into internal issues (strengths and weaknesses) and external issues (opportunities and threats. Once this is completed,
be overcome or minimised to achieve desired results (weakness or threat When doing SWOT analysis,
-ing the Opportunities and Threats you face. Carrying out an analysis using the SWOT framework helps you to focus your activities into areas where you are strong and where the greatest opportunities
impact of the weaknesses and threats "Innosupport: Supporting Innovation in SMES "-2. 2. SWOT Analysis
Gathering information on Opportunities and Threats should focus on the external factors 3. Create a workshop environment
4. List Strengths, Weaknesses, Opportunities, Threats in the SWOT Matrix 5. Evaluate listed ideas against objectives
Strengths, Weaknesses, Opportunities, and Threats. The SWOT template below includes sample questions, whose answers are inserted into the relevant section of the SWOT
ï Own known vulnerabilities ï Timescales deadlines and pressures ï Cash flow, start-up cash-drain
ï Competitors'vulnerabilities ï Industry or lifestyle trends ï Technology development and innovation ï Global influences
Threats ï Political effects ï Legislative effects ï Environmental effects ï IT developments ï Competitor intentions-various
The gathering information on Opportunities and Threats should focus on the external factors Step 3: The manager of the health centre encouraged all the members of staff to freely express their
Threats ï Low income of users ï Bad roads ï Low salaries ï Lack of budget
ï the risks are tolerated easily because the chance to find a solution is bigger ï it is an inexhaustible source of stimulating the individual creative potential
-tions for feelings of psychological security, favourable for creative manifestations "Innosupport: Supporting Innovation in SMES
ï How do we manage the threat of the loss of key people and their know-how
and personal risks taken to drive innovation in the or -ganization 4. 7. 5. Guidelines for installing a corporate innovation system
of risks (implicit, career-wise) am I taking if I dedicate my time to innovation
ï Risk and challenges in thinking about innovation http://www. innovation. cc/peer-reviewed/glor-ethics. pdf
projects based on the assessment of the potential gain in balance with the risks involved. The evalua
which they were willing to risk. However, it was decided to have a webpage with information
so that the risks are minimised and profits are maximised. This text is designed to help SMES managers to understand the NPD methods neces
To manage risk via a stage0gate method, the parallel activities in a certain stage must be designed to
business risks. Each stage costs more than the preceding one, so that the game plan is based on incremental commitments.
Programme risk issues Proposed NPD proc -ess deviations System architecture Degree of new inven -tion & technical devel
Programme risk issues NPD process deviati -ons Final Design Review issues and proposed resolution Customer satisfaction
Programme risk issues NPD process devia -tions "Innosupport: Supporting Innovation in SMES "-6. 1. New product development methods
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
ï Monitor the potential threat levels posed by competitive products to understand competitive strengths and weaknesses
that their works can be disseminated without fear of unauthorized copying or piracy. This in turn helps increase access to
European patent applications may be filed (notwithstanding the provisions on national security) at ï European Patent office, at its Munich, The hague or Berlin branches
are no national security constraints, to WIPO (World Intellectual Property Organisation) in Geneva or to European Patent office in either The hague or Munich
Another risk, which is undertaken without regular updating is that the original patents and the technology they protect may become obsolete
and excellent ideas that could exploit new technolo -gies or products are very important for the development of business.
risks involved, the complexity of the project and the time needed for development The nature of a project is extremely important in determining the kind of financing that is sought
The advantages of venture capital are that no security needs to be given, so if the investment doesn†t
bear fruit, the risk is with the investor as much as with the company and so is the loss.
A further problem with bank loans is that the bank will require security in the event that something
Since innovation is considered a high-risk business by most banks, it is sometimes difficult to find a
Some characteristic features such as insecurity, growing dependence on scientific progress growing complexity of research and innovation, the importance of knowledge and learning etc
if production exploits resources and people in a not acceptable way. The internet and mass media are able to influence on costumers opinions during very short timeâ€
-high economic risks Acs and Audretsch (1990), Baldwin and Gellatly (2004), Rammer et al. 2006 Shortage of and hindered access to
policies, which are caused often by social, political and/or security-related concerns and are supported not rarely by strong pressure groups in the society.
location as a potential threat to their job security leading to resentments, antagonism and even non-cooperation,
b) What are the advantages and possible risks of internationalization of innovation activities, particularly of R&d?
recommended public programmes and support for venture capital and other types of risk financing through, for example, tax incentives.
9. Food security, sustainable agriculture and forestry, marine and maritime and inland water research and the bioeconomy
Secure societies †Protecting freedom and security of Europe and its citizens DRS-17-2014/2015
risk assessment, market study, user involvement, Intellectual Property (IP) management innovation strategy development, partner search, feasibility of concept and the like to
as access to the financial facilities supported under Access to Risk Finance of this work
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
to Risk Finance Work Programme), and should help ensure greater access to risk finance by
firm entry involves considerable risk, with survival chances that are difficult to assess, institutions that make exit very
Access to risk capital is a major obstacle to SME expansion High administrative costs and uncertainties about
mutually agreeable to investors and SMES looking for risk Key policy recommendations â Increase the ability of women to participate in the labour force by ensuring the
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
â 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
e g. sharing the cost and risk of pre-competitive research  OECD 2004 21 PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY
ways of spreading risk; lowering and sharing costs, including R&d costs; and in many cases
But globalisation can also pose challenges and threats which SMES, from a resource viewpoint, are less well
Challenges and threats may concern the following: standards and international compatibility issues; intellectual property protection;
political risks; corruption; and rule of law issues SMES€ participation in global markets lags behind that of larger firms
adoption, including trust, transaction security and concerns about intellectual property rights as well as challenges in areas of management skills and technological capabilities
Trust, security privacy and consumer protection are essential, †Regulatory and self-regulatory efforts to bolster trust
security, privacy and consumer protection can enable SMES to take full advantage of e-business. A culture of security to
enhance trust in the use of ICT, effective enforcement of privacy and consumer protection, and efforts to combat
security (including spam and viruses privacy and consumer protection. Intellectual property protection of ICT innovations and digital products is necessary to build the confidence among
organisational, security, trust and management skills in addition to ICT skills) in conjunction with education institutions, business and individuals
with less risk of overestimating policy impact. Furthermore a consistent high level of sophistication across programmes
hand there is the risk that this closeness may impair their â€oeindependence†and subject the evaluation to â€oecapture†or
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
There is the risk that technical staff will push too far ahead of customers and lead to a product failure.
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
technology/market/product combinations that exploit new technology than they are at conducting fundamental research (which large firms do better.
This transfers the risk of equipment failure to the service provider and focuses on relationship-based services centered around the product and
as the service firm†s risk increases and higher levels of solution expertise must be available
and security that the company provides. The responsibility for downtime now shifts from user to supplier,
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
Another aspect of incentives is to encourage risk taking. An individual (or team) should not be
A culture of risk-taking is essential for a successful innovation process. Unlike products, many services are delivered by
and risk associated with each idea. In most situations, the business analysis should include at least three scenarios:
exploit the financial potential that such businesses offer. Nearly all product manufacturing companies that invest heavily in extending their service businesses increase their service
•Shift downtime risk from customer to service supplier •Transition from transactional to relational selling
managers take risk â€oei am encouraged to experiment; we take calculated risks; we encourage trial and errorâ€
Stimuli The degree to which it is understood that unrelated knowledge can impact product, service and operations
assurance of status parity can help to bridge the gap between departments, and unite them for a
risks and inhibits feedback and learning opportunities from the field. It is better to overstaff in
-house personnel than risk ineffective response (Gebauer et al. 2005). ) The firm also can start to
but include surveillance, monitoring, information gathering interpretation, and the firm†s willingness to invest in data capture and storage.
L'innovation dans l'assurance: le cas de l'UAP (Innovation in insurance: The case of UAP), for UAP and The french Ministery of Research-University of Lille
SMES have some advantages (flexibility) and disadvantages (unable to spread risk across projects, can't afford to fund log-term R&d.
R&d, as decisions must survive several organisational layers of resistance, where an aversion to risk
Germany have not been able to overcome the risks inherent in a high degree of specialisation, and
especially their vulnerability to market changes 45. Despite their specialisation, the German Mittelstand companies pursue a strategy that is not
larger share of the target market, risk diversification, or access to vital information about potential inputs or
professional risk evaluators for new technologies and new business; and rapid access to secondary markets
Financial institutions, as well as government bodies, have difficulty assessing the risk-profit trade offs of innovative ventures.
technological feasibility, commercial risk, and managerial capacity of an SME and its proposed innovative project.
rating that would help reduce the uncertainty that limits private sector investments in high risk innovation
-term 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
innovation generally involves more risk (Green et al. 1995, Rice et al. 2001, O†Conner and 41
Creation of new knowledge in a firm involves risks (Teece and Pisano 1994, Howells and Michie 1997, Lei 1997),
such as those present in high-tech or dynamic environments, by taking risks, innovating, and exhibiting proactive behaviors,
threat to reliability is finding new literature that contradicts the existing findings The argumentation and
The only threat to reliability is finding new literature that contradicts the existing findings Same as in (d
Any threat to reliability in papers 1, 2, 4, 5, and 6 would come from the
However, there are risks and limitations of instability imbedded in the model, when input information is not intense enough.
identify bankruptcy risk of corporations. Journal of Banking and Finance 1 (1), 29†54 Altman, E. I.,Marco, G. and Varetto, F. 1994.
An application in securities analysis. Management International Review 28 (1), 34†44 Historyitem v1 Insertblanks Where:
Entrepreneurs take risks and new technologies appear, leading to the creation of new enterprises. On the contrary, during the maturity phase--for example, the steel and
enhance the chances of policy success by eliminating the risks and costs of trial and error To take forward the programme†s key strategic task of sharing policy know-how, the new programme
SMES and Risk Sharing Finance Facility, RSFF 2. Those aimed at building greater European coherence amongst research projects in specific
security and hygiene The mechanism is applied through a partnership between ADRAL (the regional development agency), the council and a commercial bank,
innovation involved excessive economic risks •A 2009 Canadian survey37 found that 57%of world-first innovators judged a lack of skilled
Innovative capabilities for SMES depend on both their ability to exploit external knowledge and on their
Indeed, the vast majority of SMES do not take the risk to carry out in-house research as the process of
initiative, the Capital Investment and Risk management company of Andalusia INVERCARIA which is the first venture capital company at regional level
•Industrial leadership with initiatives like the KETS (Key enabling Technologies), access to risk finance, †SME instrument†(â 17 billion
•The second sub-programme is related to risk finance (â 2. 8 billion. It will consist in loans
environment, security and hygiene The mechanism is applied through a partnership between ADRAL (the regional development agency
and the relative risks for policy. It thus focuses on helping entrepreneurs identify their knowledge-based strengths at the regional level and in a more exploratory
Risks of policy induced specialisation While the central tenet of the concept of smart specialisation was accepted quickly by the EU policy
At the same time, the crisis has exposed also the vulnerability of global value chains to demand and supply shocks and has forced also OECD governments to look more closely at where economic value is
allocating resources in an environment of structural change and uncertainty, risk, and information asymmetries •Activities, not sectors per se are the level for setting priority setting for knowledge
specific goals especially in markets for goods that are public or semipublic such as national security health and the environment.
especially MNES, will exploit differently the same set of national or regional comparative advantages Among the conditions that affect factor endowments, specialisation and comparative advantage are the following
The quality of institutions such as government institutions (e g. rule of law, competition, security social institutions (labour-employer relations) also affect factor endowments
overlaps, and limit the possibilities in some activities to exploit economies of scale, but it also does not
over two decades stemming from a regional strategy based on risk sharing funding of original equipment manufacturer
but also bottlenecks and threats to push these opportunities further Source: OECD-TIP case-studies on smart specialisation
In Australia, future bottlenecks/threats of the Australian grains industry are detected by direct consultations among grain growers,
This balance not only relates to risk; GRDC also strives to balance its research portfolio in terms of short
significant resources to increase food security in other countries as part of its aid budget. In the years 2006
There are a number of bottlenecks/threats that could affect the future of the Australian grains industry
27 Global food security: Feeding another three billion. Critical for the world, critical for Australia (2011. Available at
threat is that spill overs will be limited Rather narrow (public knowledge base in Flanders (e g. process technology Connectivity
Bottlenecks and threats for the ecosystem that may hamper the entrepreneurial process include the following:
and ii) The high risk of lock ins due to the inertia of the chemical sectors innovation system
energy, smart mobility, logistics, and security Brainport has a population of about 740,000 people, a Gross Regional Product of EUR 27 bn and a
Nonetheless, there are bottlenecks and threats that can hamper entrepreneurial discovery in the ecosystem, especially in an increasingly competitive global market.
•Flexible production with competitive costs and risk sharing value chain •Sophisticated demand structure
Threats •Second hand vehicle imports from the EU •Uncertainties in studies conducted in energy efficiency and environment legislation
Bottlenecks and threats Regional innovation and specialisation strategies need to be reviewed regularly to ensure they
goals and desired outcomes for the region represents a serious threat. One of the key strengths of
demonstrating value and alleviating concerns about the risk of interaction  OECD 2013 99 •Buy in from industry:
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery The advantage of Lower Austria in terms of RTDI is definitely the fact that it does not have to offer
and any risk of trying to excel at everything •Impact of data and diagnostic tools:
security contributions as well as on beneficial impact on structural change and value creation in the region.
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Future threats for the innovation ecosystem in Upper Austria that may hamper entrepreneurial
discovery are the lack of ongoing and systematic evaluations and assessing the effectiveness of strategy
the world market (e g. electron microscopes, cyber security SW. In the second step, the problems within such narrowly defined innovation systems (incl. external linkages) must be
resident of Estonia, for instance in energy, national defence and security, health care and welfare services INNOVATION-DRIVEN GROWTH IN REGIONS:
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery The development and performance of the Estonian innovation system has been remarkable over the
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Low R&d levels in all sectors remain a key bottleneck for the region.
channels with risk-taking capabilities exist. The overall innovation service network and innovation infrastructure remain obscure.
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery The capital region hosts many internationally renowned universities as well as research institutes
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Many specific recommendations have been formulated during the work on RIS 2013-2020
Additionally, external threats detected in the Basque Country†s innovation system with a significance for the future are likely to include:
i) Risk of loss of international market position of some Basque sectors ii) Risk of non-differentiation in the new scientific and technological niches;
and iii) Risk that the continuity of the economic crisis may pose to the economic sustainability of the Basque Innovation
System Lessons learned and conclusions for political action During the last decade the government of the Basque Country (Euskadi) has learned the importance of
•There is a widespread understanding amongst policy makers of the bottlenecks and risks of top -down government induced specialisation
process of assessing cluster potential to reduce risks in policy implementation and in the practice of smart
there is an important risk of government failure: hence it is crucial that smart specialisation strategies develop into outcome-oriented policies and that, accordingly,
•What upcoming threats and challenges do you see for the regional key economic sectors (and the
what co-funding/risk-sharing scheme will be in place on the regional level? Which department (s is/are in charge of innovation policies and budgets
and threats for the development of a shared vision INNOVATION-DRIVEN GROWTH IN REGIONS: THE ROLE OF SMART SPECIALISATION
Weaknesses, Opportunities and Threats Triple Helix Model of Innovation: Academia, government, and industry constitute the three helices
Risks of policy induced specialisation The global economic context for smart specialisation Key policy findings
Bottlenecks and threats Lessons learned and conclusions for policy Lower Austria: Regional policy mixes for smart specialisation †how to develop sustainable industry science interactions in a region without explicit lead sectors
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Lessons learned and conclusions for policy
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Lessons learned and conclusions for policy
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Lessons learned and conclusions for policy
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Lessons earned and conclusions for policy
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Lessons learned and conclusions for policy
Bottlenecks and threats for the innovation ecosystem that hamper entrepreneurial discovery Lessons learned and conclusions for policy
been impacted seriously by restructuring and globalization threats (Chichoni, 2011. To counteract such global and local tendencies,
The importance of entrepreneurial skills, such as innovation and risk taking should not be overlooked as essential ingredients to SME success
well understood, especially in companies under threat since it may help to improve the company
simple organizational structure, their low risk and receptivity were the essential features facilitating them to be innovative therefore,
vision, enthusiasm, future-oriented exploit external opportunities for inward investment and information gathering. In addition, Motwaniet al.
and take risks. The finding on risk-taking was also confirmed by a study conducted among American SMES Blumentritt (2004),
showing that the most innovative firms were competitively aggressive and willing to take on greater degrees
of risk According to Massa and Testa (2004), benchmarking enabled a company to compare its practices and performances with others as well as to acquire external explicit and tacit
ï Manage the risk. He highlighted that strategy should be varied sufficiently to allow for organizational agility and flexibility
security of vehicles, and by improving interoperability between transport modes. An essential element in making public transport more attractive is improving
users are more vulnerable to robbery, violence, and terrorist attack. Furthermore, surveys indicate that low perceived security is a key barrier to public transport
for many potential users. Security of urban passenger transport is a key element of the EU Internal security
Strategy and of the EU strategy in the fight against terrorism. To ensure that increased security does not
compromise ease of travel, research initiatives have been set up to develop efficient and effective security
concepts Security measures for different transport modes have been developed and tested in CIVITAS projects in cities throughout Europe.
These measures include installation of cameras in buses, trams, trains stops and stations, and closer cooperation between
transport operators and local security authorities Surveys of public transport users, for instance in Stuttgart (Germany) and Malmã (Sweden), have
shown that these measures have raised passenger confidence in the security of public transport Research is supplemented by a coordinated approach
in all Member States to harmonise controls and to close security gaps. For this purpose, the European
Commission has set up the Urban Transport Security Expert Working group with a mandate to facilitate cooperation and exchange of experience between
national authorities and transport operators. Security criteria and benchmarks are being developed to enable authorities and transport operators to assess
security levels and to apply the most efficient and effective measures 1%1 %6 %14
%11 %38 %28 %1%car+taxi other pedestrian bicycle motorbike moped lorry, under 3. 5t
heavy goods vehicle Figure 2. Road fatalities in urban areas in the EU European commission (2012b) CARE-EU road accidents
database, January 2012, Brussels INNOVATION IN URBAN MOBILITY-POLICY MAKING AND PLANNING 15 SU CC
security of supply as well as to a significant deficit in the EU trade balance and increasing costs to the
access control, dynamic tunnel access control and vehicle and cargo monitoring. Potential outcomes of the SMARTFREIGHT solutions
Communication from the, The EU Internal security Strategy in Action: Five steps towards a more secure Europe, COM (2010) 673 final, Brussels
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