-the risk propensity 260 -the provider†s capacity for technical evaluation -the provider†s insertion on the innovation market
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
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
 Domain expertise (specific to a vertical sector), risk management, global partnership management, advanced technology and computing skills, analytics etc are increasingly
when there is actual acceptance of risk and the commitment of resources occurs A growing number of practitioners and
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
 •Identification of possible implementation risks  •Real data for costs and benefits evaluation and decision
management, risk management with SG roll out  •Accompanying activities  † â€oeenergy21 initiativeâ â€:
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,
Smart Cities project risks being dominated by US companies such as IBM, Google and Ciscos, partly because of the lack of
A major risk for the Future Internet is the realisation of the †Big Brother†scenario, with big industrial
there is a risk that the innovation ecosystem will become more closed, favouring incumbents and dominant players, thereby in time constraining
and offer more incentives for risk taking Entrepreneurial knowledge involves much more than science and technology.
linear view of innovation, run the risk of autarky, and take a narrow view on the role of policy in
stimulation of entrepreneurship/management of risk and uncertainty; market formation mobilisation of resources; and legitimation.
involved in the RIS process), the design of the RIS3 architecture needs to anticipate the risk of
but it does mean that the costs and risks associated with entrepreneurial search are shared and therefore do not become too prohibitive for
Prioritisation always entails risks for those who have to select those few domains that, as a result
assets, are the best guarantees to avoid both the risk of capture by interest groups and the risk of
Strategies that stop before this step run the risk of remaining unimplemented and/or not credible.
Developing a RIS3 involves a degree of risk-taking, since there is always some uncertainty in the choice of priorities, both in the events that can change the
before possible extension, limiting risk Even more than for conventional projects and actions, pilot projects need to be
of the industrial base, uncovering specific risk factors, such as the existence of a number of industries in need of modernisation or the dependence of the regional
EU level debt instruments (guarantees/risk sharing: CIP-SMEG, RSFF, LGTT •Risk Sharing Finance Facility (RSFF.
The Risk-Sharing Finance Facility (RSFF) aims to improve access to debt financing for promoters of
research and innovation investments by sharing the underlying risks between the EU and the EIB.
Together, the European commission and the EIB are 113 http://ec. europa. eu/enterprise/policies/finance/cip-financial-instruments/index en. htm
-sized firms, the Risk-Sharing Instrument (RSI), was launched at the end of 2011. It was operated by the EIF on behalf of the EIB and provides
risk and consequently improves the financial viability of such TEN-T projects. 117 Policy DG in charge:
to film producers in order to reduce their risk and increase their lending activities in favour of the sector.
particular to vulnerable groups in risk of social exclusion, for the purpose of setting up small commercial operations;
risk finance product range of SME finance initiatives, complementing the products offered by the EIB with
low cost, low risk, and off-the-shelf solutions once the (political) decision on what to buy and at which price has been made even
pooling of risk and resources across countries and different administrations •Difficulties for innovative SMES to become involved in public procurement
and by decreasing the potential innovation costs and financial risks through ERDF co-funding •The recognition of the procurement phase as strategic in public policy
There is a risk of it being hampered by insufficient knowledge limited support of grass roots, social enterprise and social entrepreneurship
risk of poverty and social exclusion, the need for better and more transparent governance, and a more sustainable resource management
risk management and strategic planning with a view to obtaining a better access to the private capital markets, to expand
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
drugs and tobacco consumption, environmental risks accidents at work, in traffic or at home, etc •Protecting citizens from health threats:
Managing food risk information in an online world Food scares can undermine consumer confidence, ruin business reputations and create unnecessary panic
estimated 80 million people are at risk of poverty and 14 million young people are not in education,
today's global market environment, various risks and opportunities provide reason for business to engage
and the level of uncertainty or risk involved. Hybrid approaches are increasingly common So is collaboration.
Four billion people worldwide are estimated to earn less than $4 a day. 7 These four billion represent both risk
On the risk side, poverty breeds despair, and people without hope are a threat to stability and progress.
This risk affects business generally, and the ICT sector by extension. But the primary motivation for ICT companies to help the poor get richer is opportunity, not risk
2. 1 New and Expanding Markets As described above, ICTS increase efficiency, productivity, and access to goods, services, information, and
the risk of becoming an impediment to future success: when industries are young and the current stakes are
For customers, these services reduce the risk associated with carrying cash; save time and expense in money transfer;
The UK€ s Department for International Development (Dfid) matched Vodafone†s investment, reducing its risk
worked with public and private partners on a number of options to reduce risk, such as payment by payroll
identifying and responding to risk and opportunity throughout the extended enterprise Drivers So far, Azerbaijan, Cameroon, Gabon, Ghana, Guinea, the Kyrgyz Republic,
•formalize the link between EITI adoption and sovereign risk ratings Nigeria received a mark up in its sovereign risk rating after implementing EITI.
However, for rating agencies to consider EITI implementation on an ongoing basis, they will have to be sure that the processes in place to collect
SAP€ s Governance, Risk, and Compliance (GRC) team develops solutions that help customers collect and
enterprise has unlocked value for SAP€ s customers by helping them identify risks and opportunities earlier and
Amit Chatterjee, Senior vice president of the Governance, Risk and Compliance Business Unit for SAP AG in Palo alto, believes that similar value can be unlocked through
Chatterjee is optimistic. â€oearound more complex problems, with higher risk and higher betas of success,
Chatterjee, Amit, Senior vice president, Governance, Risk, and Compliance Business Unit, SAP AG. 2007. Personal communication (telephone
and disseminating risk management concepts and capabilities at Booz Allen Hamilton, the consultancy, with special emphasis on the strategic
risks companies face as a result of social, environmental, and international development issues. Beth also spent four years working on base-of
too high risk of innovation projects, too expensive tech -nology. This applies both to SMES and large firms.
on risk, technological advance, and economic situation of the firm. This means that a newly established firm
pursuing a high-risk and technologically ambitious inno -vation project will receive a higher percentage of the
, novelty, R&d risk, feasibility, func -tionality, technological upgrading) and economic performance, marketing experience and perspectives
and mediation of risk capi -tal The technological level of firms benefiting from direct support, in particular the FFF scheme,
lack of finance, too high risk consultancy, reduction of risk Technological effects: technical services, technical know-26.9 10.3 Technological problems:
lack of technical know-how how inavailable or too expensive technology Manpower effects: funds for personnel 44.9 11.5 Manpower problems:
-ing the risk of collective failure at cluster level (Bathelt 2004: 155. This has conse
prosperity would be at risk. 39 36 EEA Report No 1/2007: Transport and environment:
Impostors, by minimising the risk of dealing with impostors or persons who attempt to escape responsibility by claiming to have been impersonated
Message integrity, by minimising the risk of undetected message tampering and forgery, and of false claims that a message was altered after it was sent
as to lower implementation risks and consequently maximize investment returns. As an example, while the European commission, ETSI, industry associations and commercial
in business is to diminish the risk of such transactions by introducing some uniform rules
place, costly investments bear the risk of becoming ineffective. Thus, revisiting the two initially specified working hypotheses (see 4. 1. 1),
avoiding duplicating task and minimising the risk of losing important data. The system allows eliminating existing duplicated processes and reducing errors in the information
skills in place, costly investments bear the risk of becoming ineffective IT practitioners. Interviewed SMES often lack a coherent ICT investment strategy or the
It is estimated that one in three people aged over 65 is at risk of falling †going up to
consequences, including a real risk of fatality. Technology permits the development of solutions which enable the elderly and the disabled with severe injuries to walk
operational programmes for prevention, early identification and minimisation of risk and management of falls Making technologies accessible to the ageing population
but also carries risks. Only 12%of European web users feel completely safe making online transactions. 38%of users had concerns with the
•trust in technology †74%of EU Internet users in 2012 think that the risk
system,(1) high costs for users and operators compared with the perceived benefits,(2) risk of
•Patient safety (reduced risk of patient harm •Quality of care (effectiveness and efficiency of care service provision
patterns, identify at-risk patients, and review the performance of individual physicians Business intelligence and in particular Data mining are useful tools in the detection of
and the hospital faced significant risk with written off debt. The claims office were constantly fielding calls from consultants
organizational structure, their low risk and receptivity are the essential features facilitating them to be innovative (Harrison and Watson 1998.
and risks associated with manual claims processing In Australia, for example, electronic claiming over the internet has been
risks of failure and poor returns. The ability to share information interoperability) is also entirely dependent on the adoption of
or sharing the financial risk, and providing much more robust evidence on the advantages of health ICT can
condition or risk, and facilitate communication between providers have been cited as providing substantial benefits in health outcomes (Bates et al.
risks of failure and poor returns. The ability to share information interoperability) is also entirely dependent on the adoption of
financial risk, the decision to finance and adopt ICT, including which of the available technologies to adopt and for
and the current risk-averse culture public and private payers cannot simply rely on physicians â€oewillingness to
some of the risks and potential savings with health care providers Table 2. 3. Payment schemes in primary and specialist care, 2008
2) clinical requirements (e g. reliability of patient records, and risk management 2. 5. Lack of commonly defined and consistently implemented
or sharing financial risk, can therefore be expected to speed up ICT adoption Not surprisingly, the range of financial incentives used in the various case
reimbursement or fees paid to the care provider is at risk 76 †CHAPTER 3. ALIGNING INCENTIVES WITH HEALTH SYSTEM PRIORITIES
stages carries a risk that EHR will not be adopted. The same MGMA study found that together with lack of capital resources, concern about loss of
share of the financial risk This level of government intervention also reflects the â€oepublic goodâ€
Partnerships lower the intervention costs (and risks) for any one health care organisation and increases the likelihood of effectiveness and
instruments available to governments, certification helps mitigate risks and increases the confidence of users that the purchased systems will indeed
incentives programmes and simultaneously reduce the risks facing health ICT purchasers, thus acting as a two-stroke catalyst to accelerate adoption
•Reducing the risk of data loss in physician offices caused by human, hardware or
the risk increases that stigmatising disclosures could affect areas such as employment status, access to health
approaches have risks and benefits The MAEHC decided to use a global opt-in approach for patient
The risk that large numbers of patients would refuse to opt in had been an issue in other countries (e g. the United
•Reduction in the risk of clinical errors through improved legibility and reduced double-entry of patient information
the risk of death and severe disability Determinants of success Government leadership and strong political commitment to widespread
run the risk of a loss A migration to an ASP was recommended, therefore Use of the WDH,
role as visionary risk-taking and demanding reference customers. By taking these roles, these organisations can stimulate innovation through
information symmetries and risk assessment tools and systems are examples of government initiatives that can stimulate private initiatives
as visionary risk-taking and demanding reference customers and stimulate innovation through innovative demand side measures, such as public
that reduces risks and improves innovation management skills •Complement procurement processes with funding support that accelerates the scaling and
potential risk (they are vulnerable to loss of staff and knowledge and quality is based often
Without change, Australia risks being competed out in the world market, resulting in fewer jobs and lower economic growth.
•Accept international standards and risk assessments for certain product approvals Proposal 1, page 31 •Enhance the 457 and investor visa programmes (Proposal 11, page 55 and Proposal
approved under a trusted international standard or risk assessment, Australian regulators should not impose any additional requirements
All Commonwealth Government regulatory standards and risk assessment processes will be reviewed against this principle TPO00007 An action plan for a stronger Australia
and move to a more-effective risk-based approach for compliance and monitoring •The Government will improve the Significant Investor visa programme,
and take their own risks The Government is also acting to better translate Australia†s good ideas into commercial success
and risk assessments. VR Space has signed recently a three year partnership agreement with Simtars, a
efficiently manages risk and channels savings to the highest return investments •Stable, broadly based and efficient taxes that raise revenue while minimising market
•Risk-based regulation making and enforcement systems that target market failures and support relevant social, environmental or economic protections at the lowest
To achieve this, we must also promote a culture of entrepreneurialism and responsible risk taking by business.
risk taking behaviour. This is why the Government is laying the groundwork for Australian businesses to embrace structural economic changes,
and risks and to decide whether, and in which areas, to invest their capital. Government subsidies and other policies that have distorted
industry, government assistance to these industries still risks †crowding out†other productive industries, as the exchange rate and other economic variables adjust.
best placed to assess commercial prospects and risks, to foresee and take advantage of changing market conditions,
society function and manage risks. At the same time, regulations impose costs and reduce the flexibility of businesses and individuals to adapt to changing economic conditions
to standards and risk assessments of some highly regarded regulators in other advanced economies not being recognised in Australia.
example is that the Australian industrial chemical risk assessment system makes insufficient use of assessments and determinations conducted by highly-regarded overseas regulatory
Regulators will adopt a risk based approach, for example, by focusing on businesses and activities that are higher-risk,
and lowering compliance costs for lower-risk businesses. We are also continuing the roll out of Standard Business Reporting,
to provide quicker and more accurate reporting across government agencies, and reduce the cost of regulatory reporting
Accept trusted international standards and risk assessments To reduce duplicative domestic regulation, the Government will adopt the principle that if
risk assessment, then Australian regulators should not impose any additional requirements unless there is a good and demonstrable reason to do so.
The Government will review all Commonwealth Government standards and risk assessment processes in each ministerial portfolio and objectively assess whether unique Australian
standards or risk assessments are needed •As a first step, the Government will enable Australian manufacturers of medical
international risk assessments materials from trusted overseas regulators. This will be part of broader reform to introduce a graduated, risk-based approach to the
regulation of industrial chemicals that will streamline (and, in the case of low-risk chemicals, remove the need for) the pre market assessment of chemicals already
authorised for use in comparable countries Portfolio Ministers will conduct consultations as part of existing deregulation commitments
take a risk-based approach, and are consistent and accountable The Framework will apply to Commonwealth regulators that administer, monitor or
As not all employers are able to cover risks themselves, an alternative may be to allow other private employers to access cover under the Commonwealth laws as
new risk based model with improved information and education services, better recognition and greater autonomy for highly compliant providers and a more
on low-risk activities. For example, from 1 july this year, ASQA has been automatically updating the scope of courses a registered training organisation (RTO) can offer when a
risk-factors to reward low-risk applicants and re-focus compliance and monitoring activities on high-risk applicants
reduce risk. Among other things, the Centres will encourage businesses in these industries to form commercial research and development partnerships with each other, and with the
of success and well understood risk How a growth Centre could assist the food industry
is a risk that the employee will forfeit the shares, in which case taxation is deferred
and assuming there is no risk of forfeiting the options, if the employees accept the options then they will have to pay tax on the free options in the income year they are provided
schemes where there is a risk of the employee forfeiting the shares or options, and schemes provided
risk of forfeiture or when any restrictions on the sale or exercise of the options are lifted (vesting
options necessarily being at risk of forfeiture Further, for options, the deferred taxing point at vesting will be
carry and spread risks themselves, they can find it more difficult to attract and retain
risk assessments The Parliamentary Secretary to the Prime minister will continue consultations with industry and Ministers on opportunities to
) Opportunity at risk: regaining our competitive edge in minerals resources. Sydney: Minerals Council of Australia National Science Board.
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
-ies to evaluate their cost-effectiveness, risk analysis, design and development, new policies and pro
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
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
Another risk, which is undertaken without regular updating is that the original patents and the technology they protect may become obsolete
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
bear fruit, the risk is with the investor as much as with the company and so is the loss.
Since innovation is considered a high-risk business by most banks, it is sometimes difficult to find a
-high economic risks Acs and Audretsch (1990), Baldwin and Gellatly (2004), Rammer et al. 2006 Shortage of and hindered access to
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.
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
political risks; corruption; and rule of law issues SMES€ participation in global markets lags behind that of larger firms
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
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 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:
•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
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
SMES have some advantages (flexibility) and disadvantages (unable to spread risk across projects, can't afford to fund log-term R&d.
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