support supervision, surveillance, management of outbreaks, development of training materials, social mobilization and advocacy. The health sub-districts are responsible for
disease surveillance 156 IJEDICT Potential benefits provided by ICT in healthcare Some of the benefits that would be provided by adoption of ICT services in the healthcare
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
risk taking exert a positive impact on innovative performance. Surprisingly, we find that risk taking negatively moderates the influence of intra-cluster ties on innovative
performance. Overall, the findings of this study point to the synergistic effects of entrepreneurial orientation and extra-cluster ties on innovative performance
proactiveness and risk-taking because we believe they have a unique role in leveraging innovation.
Next, we distinguish the two well known traits of EO€ proactiveness and risk taking†and examine their specific roles in generating innovative gains through ICTS and ECTS
Risk-taking orientation reflects a firm†s â€oetolerance of uncertainty†and capture a firm†s willingness to involve in
while risk taking affects innovation directly, as well as by reinforcing the positive innovation effect of a firm†s ties
such ties carry major risks The firm†s partner may not be reciprocative in information exchanges,
In spite of these risks, a firm that nurtures its ties through the necessary investments in relationship building and knowledge sharing might stand to benefit more from its linkages than a
While both ICTS and ECTS carry risks, the risks associated with the latter are likely to be higher due to the relatively higher differences in
risk taking may also be higher in respect to ECTS, given the potentially novel and non-redundant
to take business-related risks and seek opportunity in anticipation of future demand (Covin &
Risk taking is a complementary EO characteristic that reflects the commitment to high-risk investment or the willingness to invest resources into
affirm that a successful entrepreneur makes calculated risks for potentially rewarding future benefits (Low & Abrahanson, 1997.
In short, proactiveness and risk taking are two important 9 features that shape how a firm acquire
of proactiveness and risk taking in relation to a firm†s ICTS and ECTS. However, prior literature
influences of proactiveness and risk taking on a firm†s network ties (ICTS and ECTS) in the
and risk-taking orientation both contribute to innovation and enhanced firm performance, we suggest they do so in distinct ways.
risk taking ensures that the firm makes the necessary commitments in order to derive value from its network ties.
How Does Risk Taking Moderate the Effect ICTS and ECTS on Innovative performance Establishing network ties do not necessarily mean that a firm is fully tapping into the
However, such commitments carry an inherent risk. In the first place partners may renege on their promises so the firm may stand to loose the resources it has
Another significant risk is associated the uncertainty with innovation (Zahra & Covin, 1995; Zahra, Nielsen, & Bogner, 1999.
As regards an acceptable level of risk, psychologists posit that this level may be chosen as a compromise between the desire for success
and the desire to avoid risk (Mandel 2003). ) Too low a risk tolerance will prevent a firm from making progress (Naldi, Nordqvist
Sjoberg, & Wiklund, 2007. As observed by Ward (1997, p. 323) â€oewithout risk taking †the
This suggests that some level of risk taking is essential for effective use of firms†ICTS and ECTS.
degree of risk taking though investment of time, money, and effort, the rate of innovation will
The interplay between risk taking on the one hand and ICTS and ECTS on the other can contribute to innovation, right from the discovery of an opportunity or the conception of an idea
Nevertheless, we suggest that the extent to which risk taking is essential can vary for ICTS
Greater trust and the threat of sanction can make risk taking less salient for ICTS compared to for ECTS.
A firm†s risk-taking orientation positively moderates the positive impact of its network ties (both ICTS and ECTS) on innovative performance
A firm†s risk-taking orientation has a greater moderating effect on the impact of its
hypotheses, depicting how the interplay between ICTS, ECTS, proactiveness and risk taking affects innovation Figure 1 Innovative performance and the interplay between ICTS, ECTS, Proactiveness and Risk-Taking
METHODS Proactiveness Intra-cluster ties Extra-cluster ties Innovation Risk taking H1a H1b H1a H1b
Proactiveness and Risk Taking We followed the approach of Covin and Slevin (1989) to measure proactiveness and risk
taking. Respondents were asked about their firms†proactive-orientation and risk-taking behavior on a scale of 1, â€oestrongly disagreeâ€, to 5, â€oestrongly agreeâ€.
We derived multi-item variables using factor analysis, testing for their reliability and validity. We confirmed the reliability of
proactiveness and 0. 78 for risk taking†well above the minimum accepted value of 0. 70 (Field
correlation of proactiveness and risk taking with innovative performance respectively (r=0. 30 p<0. 01) and (r=0. 30, p<0. 01
**5. Risk-taking orientation 6. 16 1. 22 4 9 0. 30**0. 29**0. 39**0. 47
variables, proactiveness and risk taking, along with the control variables. As expected, the coefficients of both these EO variables are positive and significant.
ICT x Risk taking H2a-0. 41 **ECT x Risk taking H2b 0. 22 *R2
0. 17 0. 22 0. 38 0. 22 0. 34 Adjusted R2 0. 13 0. 18 0. 36 0. 17 0. 28
performance, we added to the variables in model 4, the interaction terms ICT x Risk taking and
ECT x Risk taking (model 5). We find a positive and significant coefficient for ECT x Risk
x Risk taking (Î=-0. 41, p<0. 01. These results provide full support for our hypothesis 2b which
stated that a firm†s risk-taking orientation has a greater moderating effect on the impact of the
Figure 2 The Moderating Effect of Risk-Taking on the Relationship between ECTS and Innovative
From figure 2 we can better understand the extent to which risk taking moderates the
a range (from low to high) of ECTS for high-and low-risk taking firms.
the other line, underscoring that risk taking substantially moderates the impact of ECTS on innovative performance.
The EO literature identifies proactiveness and risk taking as two key EO characteristics (Lee, et al.
We argued that the EO traits of risk taking and proactiveness interact differently with a firm†s ICTS and ECTS.
Risk taking on the other hand positively moderates the impact of ICTS and ECTS We empirically tested our conjectures on a sample of 120 SMES in a creative-industry
prepared to meet future challenges and exploit future opportunities, and therefore may engage actively in search of new ideas outside of their cluster
We found that risk taking strengthens the relationship between ECTS and innovative performance. For SMES in particular, external knowledge is a key source of innovation (Jacob
) In this context, firms that take calculated risk are able to invest resources in their ECTS such that they are able to draw potentially valuable external resources.
found that risk taking negatively moderates the effect of ICT on innovative performance. Too much resource commitment for within-cluster knowledge sharing may be counterproductive as
Top benefits of IT application for their business processes in the Romanian SMES vision are data security
Data security Access to company data anytime, anywhere Regulatory compliance Ease of team-working Better internal control
data security, data access from anywhere and at anytime, regulatory compliance, team-working possibilities and better internal control
willing to take risks and naturally entrepreneurial in mindset. The region could consider ways and means of harnessing this
internationalisation may run the risk of †running before you can walk†for many SMES.
in high and low-risk ventures, and in pretty much all sectors and sub-sectors of the economy (OECD, 2001.
environment and risk prevention on the other The Spanish labour market differs somewhat from that of most European countries.
However, the risk in this restructuring is that it does not address the innovation needs of traditional sectors.
The main IT solutions offered were antivirus (to 29%of clients business management software (to 28%)and web and email (to 19
and go to work for a start up company with any assurance that they will be able to return from that employment to their university position
NRC-IRAP operates on a shared-risk model, providing cost-shared financial assistance for research
Chances and Risks of the Merger Between Cohesion and Innovation Policy. †Euro 18 (1, vol. 18, no. 1
in high and low-risk ventures; and in pretty much all sectors and sub-sectors of the economy (OECD, 2001, p. 35.
engage in risk-taking, desire to achieve independence, and self-fulfilment of the entrepreneur. At the
Environment, natural surroundings, water resources and risk prevention (29.7%of total expenditure ï Priority 4:
market security of the public sector. Nevertheless, the GEM indicated that some 270 000 Andalusian people plan to become entrepreneurs in due course;
to take risks and naturally entrepreneurial in their mindset. The region could consider ways and means
security contribution, the SUS runs for three years, paying a lump sum of EUR 600 per month for the
prices are pitched should be designed to minimise the risk of †crowding out†private sector providers
) For many SMES, the risks involved in supplying international markets often outweigh the returns, and indeed, previous research
may run the risk of †running before you can walk†for many SMES. Other policies which focus upon
Despite this, in the late 1980s the Danish Government identified the threat of increased global
Financial vulnerability and low levels of managerial competence are also common problems (Maskell, 1998) and increasing competitive pressures on SMES are making some of the
courage to assume risk, and especially about how to be independent. Still about my parents,
innovativeness), the risk-taking propensity by the CEO, and evidence of proactiveness Miller and Friesen, 1982;
where an atmosphere of high risk predominates, fewer opportunities, and with tremendous competitiveness, an entrepreneurial behavior is recommended specially
proactiveness and risk-taking propensity Especially the environment has long been considered one of the critical contingencies in
Environmental hostility represents the degree of threat to the firm posed by the multifacetedness, vigor and intensity of the competition.
of information by a firm or its employees but also to the organization†s ability to exploit
exploit knowledge Rogers (2004) ACAP; economic growth A model to examine the importance of technological
risk-taking propensity of the firm†s CEO. Innovativeness refers to a firm†s tendency to
) Risk-taking reflects a firm†s willingness to commit more resources to projects in which the expected returns are uncertain.
risk-taking is the tendency to engage in high-risk project and managerial preferences for bold versus cautions actions
through an organization†s exhibition of innovativeness, proactiveness, and risk-taking Covin et al. 2006 44
new products or services, proactiveness and risk-taking propensity (Miller, 1983; Miller and Friesen, 1982),
strong risk-taking propensity by top management under highly uncertain conditions Covin and Slevin, 1989;
exploit entrepreneurial opportunities (Lumpkin and Dess, 1996. Essentially, it refers to a firm†s strategy orientation, capturing the specific entrepreneurial aspect of decision
Risk-taking involves taking bold actions by venturing into the unknown Rauch et al. 2009), it reflects the tendency to assume relatively high levels of risk
-seeking profitable opportunities in the face of uncertainty and the achievement of long -term profitability
uncertainty are used to encourage greater levels of innovation and risk-taking, which would imply the adoption of an entrepreneurial posture.
-activeness and risk-taking propensity. We applied the exploratory factor analysis to assess dimensionality and validity.
third dimension measure the pro-activeness and the propensity for risk-taking respectively. The higher the score (minimum 1 and maximum 7), the more
the crucial need for product innovation, proactive behavior and risk-taking propensity is more clearly in firms which operate in hostile environments
risk predominates, few opportunities, and with tremendous competitiveness, an entrepreneurial posture of the firm is recommended specially.
and a risk-taking propensity. Considering that networks are both cognitive structures in the minds of individuals and actual structures of relationships that link individuals
assume greater or lesser risk activities 72 In addition, Ripollã s and Blesa (2005; 2006) found a direct causal contribution of the
and a moderate risk-taking approach†(Ripollã s and Blesa, 2005 p. 243. According to these results, the following general hypothesis about the relation
five items related to risk-taking and innovation to distinguish between entrepreneurial and conservative firms. â€oean entrepreneurial firm is one that engages in product-market
high-risk projects for the chance of high return, namely, a strong risk-taking propensity by top management under highly uncertain conditions (Covin and Slevin, 1989
and that assume relevant risks to growth (Covin and Slevin, 1991), in the same way Brown et al.
support a positive relationship between risk-taking and growth rates, confirming that the influence of EO on performance can be somewhat more insecure,
-activeness and risk-taking propensity. We applied the exploratory factor analysis to assess dimensionality and validity.
third dimension measure the pro-activeness and the propensity for risk-taking respectively. The higher the score (minimum 1 and maximum 7), the more
upon all of the systematic forces, is a large stochastic factor such as wars, terrorism economic crisis and so on Returning to our research questions
innovation and risk-taking are demanded Secondly, we argue that it is important to know the effectiveness of network usage as a
set of digital technologies, trends, opportunities and threats is creating yet another competitive frontier The 2015 CIO Survey and our most recent CEO Survey show that not only do CIOS expect,
in value and risk management that could thwart digitalization, and replace pragmatic command and control with visionary leadership
and the assurance of Gartner objectivity and independence Executive programs equips CIOS and senior technology executives
•Are you able to mitigate the risk of product decisions with the right partners, products, terms and pricing
energy, nanotechnology and security; Asia is taking the lead in ICT (partly linked to FDI)
security 38.7 %2 200 34.8 %2 934 45.5 %2 585 37.6 %3 171 12.6 %717
¢security 0. 97 •1. 09 •0. 81 †¢Automobiles 1. 59 •0. 54 •0. 96 â€
security, while Asian economies have taken the lead in ICT and reached a technology position on par with
Big data to monitor risks and identify opportunities Another big trend that is further maturing in 2014 is the application of big data
bottom line, this also limits the risk of the kind of reputation damages that go hand-in-hand with online fraud
company threats them, they will keep coming back to you and probably provide you with very valuable word-of-mouth advertising
people see the Asian invasion on the European market as a threat, and there are some good reasons for this,
combine a high level of technology competence with the ability to accept a high financial risk since new, radical technological developments take long time,
but also raises issues of risks and safety Assessing safety impacts of nanostructured materials is complicated by the fact that
has to consider risk and safety issues seriously, and regulation needs to balance between considering health and safety issues and stimulating innovation
and prioritising encironmental, health and safety (EHS) research that facilitates appropriate risk analysis and risk
public, particularly with respect to real and perceived benefits and risks; to develop and implement standards critical for nanomaterial identification, characterisation and risk assessment;
and to coordinate strategically-guided research on nanotechnology related EHS issues, including a balanced assessment of risks and benefits
NNI is a policy initiative within a wider framework of policy activities to promote nanotechnology in the USA
while technological and market risks are high and future returns not yet known. Public funding as well as a viable venture capital industry is critical to overcome financial barriers
perceived risk potentials are important activities here. Certainty about regulatory issues is also critical for nanotechnology producers to decide about investment and directions of future
market which results from a certain risk aversion and a rather short-term time horizon of the
programmes for risk assessment and risk control can reduce uncertainty about likely future impacts of nanotechnology and thus stimulate investment and demand
radically new technology with potential health risks in need for regulation. Also the nanoelectronics field does not seem to pose new health risks with production contained in
highly controlled environments and output comprising solid electronic components. However recycling of electronic goods is regulated increasingly with electronics waste representing an
take the risk to start own commercial ventures. Secondly, the culture of the people in the
characterised as incremental, it is unlikely that microelectronics face a threat of substitution by another technology.
advisers and services (including biotechnology associations), a culture that respects risks, and last but not least a strategic location close London†s large financial market, providing access
is a threat for R&d activities in advanced biofuels and cellulosic ethanol. 62 Norms and values:
New regulations on carbon emissions threat to the industry Norms and values/culture Culture of entrepreneurship
exploit the innovative potential and competences by transferring ideas and research output from the scientific community into commercial applications and products.
safety and security (EC, 2008a Information and Communication: Optical networks have opened the way to almost unlimited
Military Space Surveillance systems Avionics Displays Image Sensors Lasers Optical Systems and Components Optical Components and Optical glass
new technology with potential health risks in need for regulation. Rules and regulation are hence not mentioned by any of the analyses as a relevant factor
environment, health care and life sciences, safety and security. In keeping with its greater importance for Europe, Photonics has been given a higher profile in the Seventh Framework
Optical coatings 5 2008 5. 7 2015 2 electronics, defence/security architecture, solar, medical telecom, transportation
medical, security, architecture BCC (2006 Total market for advanced materials 102.7 2010 177.0 2020 6 Moskowitz (2009
which includes materials used in medicine, security and convenience (Schumacher et al. 2007). ) High tech textile materials and smart materials belong
Another major application area is defence and security The chemical industry is the most important source of advanced materials patents (about 50
R&d in advanced materials is associated with high costs and risks and long amortisation times for new materials.
and risks of R&d are high while returns from sales of new products may be still out of
reduces at the same time the risk that manufacturing technologies are copied easily by competitors or substituted by competing technologies.
-Brandenburg photonics cluster, run the risk of staying †stuck†in knowledge development and inter-firm collaboration between local smaller firms, without making †the jump†to large scale
discourages openness, creativity, innovation and risk taking (soft institutions. Capabilities in the fields of technology, organisation and marketing are also necessary for innovation to be
acceptance of risk and failure, and cultural attitudes tend to be more egalitarian. In Anglo
and risk and failure are considered part of that European Competitiveness in KETS ZEW and TNO EN 344error!
high information asymmetries over the prospects and risks of KET-related R&d activities. As a consequence, traditional ways of external funding are restricted
technological and market risks, a generally favourable framework for innovation and commercialisation of new technology can be helpful as well.
and risk taking, can be important activities, as well as a favourable financial environment, including tax incentives for R&d and investment in new technologies
 threats  or  opportunities  The  authors  are  quite  clear
10 A. Segal, Autonomy, security, and inequality: China, India, theunitedstates, andtheglobalisationof science and technology, Technol.
Indeed, part of the risk that CIOS face on digital is that other business managers, or wholly new specialist
other CIOS. They show a much stronger appetite for risk and a greater ability to influence the rest of the business
So is the CDO emerging as is often the case with a threat that could replace CIOS,
digital world †and those who are not are increasingly at risk. â€oeas more applications and infrastructure get moved to the cloud, IT
address the opportunities and threats that digital transformation provides to their firms, they need to be a part of their executive
%Minimize possible risks 66 %60 %Deliver signiï cant corporate cost efï ciencies 78 %81 %Account for IT issues and
such as in seeking to minimize risks IBM€ s global-local IT transformation Diego Calegari, Spanish South
IT and security needs are up and running Providing insight to support business decisions In return, they appear to benefit materially from this:
It takes out risk. It takes out a lot of the variations. It gives us insight into new opportunities
IT and security needs are up and running Providing insight to support business decisions D
risks, and this is particularly true for digital-ready CIOS. They need to be brave enough to take a bet on emerging technologies.
a bigger risk for the business †and thus gets closer scrutiny Accordingly, digital-ready CIOS need to be willing to embrace this
This involves a willingness to risk failure: understanding that not all digital projects will deliver as hoped.
back from taking risks by these issues. It is in their attitude to risk that typical CIOS often come unstuck
â€oe Like an ipad that even two-year olds can use by pure intuition the success of digital
flamboyant, outgoing, risk-taking types. So companies may need to rethink their hiring processes to seek out a different caliber of
Finance, Risk & Compliance, Nedbank 2002 †2003 General manager Programme Integration Nedbank 1996 †2002
risks Widen your resume Tasks at a personal level Set up the right architectures for growth
requirements, along with legal, security and other aspects Digital technologies have a huge potential to change the underlying
risks. While it may make a lot of sense to move email and CRM systems quickly to the cloud, it†s a much more involved decision to know when to
EY Assurance Tax Transactions Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services
The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over.
-the risk propensity 260 -the provider†s capacity for technical evaluation -the provider†s insertion on the innovation market
There is potential to exploit new areas, such as Silver-technologies, building on the existing strengths in ICT and
Healthy transport, safety and security A Business Support Unit has been established within the City council to work alongside the
Aspects such as data protection and information security become increasingly important †Ireland is positioned well with regard to Data protection legislation and neutrality, and the
making capability, risk and regulatory management, business process engineering and languages †But needs to continue to enhance the skills base
 Strategic Flood Risk Assessment The enterprise agencies, IDA and EI are part of the Steering/Implementation Committee for
engineering, and leverage regional assets such as Waterford Port, to exploit opportunities in renewable energy supply chains.
There is potential to exploit new areas, such as Silver-technologies, building on the existing strengths in ICT and
 New civil defence headquarters in Bagenalstown  Facilitation of wireless broadband in Bagenalstown, Tullow and rural Carlow
Litigation support, risk assessment, patent writing, IP services legal research services etc Contract Research Outsourcing
Risks Leveraged by infrastructure and processes Data security, IP leakage Target Economies of scale Domain expertise Depth not size
Challenges Attrition, wage inflation Skills availability, regulatory limitations  Because of the nature and range of activities, the range of skills sets requires is also broad â€
 Domain expertise (specific to a vertical sector), risk management, global partnership management, advanced technology and computing skills, analytics etc are increasingly
a major Coastguard base, private and business aviation, the Pilot Training college of Ireland, cabin crew training,
surveillance system today called PRISM. Importantly, the e-groups included not just students currently enrolled but many who had taken previously the class
when there is actual acceptance of risk and the commitment of resources occurs A growing number of practitioners and
exploit newer technologies than their larger, less agile competitors (Xiang and Lan 2001; Bonk 1996
as innovation entails considerable risk -taking (Blumentritt and Danis 2006 successful implementation requires making significant systemic changes in a
firm to promote risk. A strategy that focuses on innovation will also likely require some degree of flexibility in its
at greater risk of having products and services marginalized by technologically superior competitors With regards to IT, in many respects
Security 7 (1), 5†22 Jà reskog, K. G. 1978. â€oestructural Analy -sis of Covariance and Correlation
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