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Entrepreneurship and Innovation pp 227–263Cite as

Risk Management in Innovation

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Abstract

This chapter examines the issue of how to manage risk in the process of innovation. By its very nature, innovation is inherently risky. The more radical and disruptive the innovation, the more uncertainty and potential risk is created. However, the management of risk remains an important issue for any manager or organisation seeking to engage in the commercialisation of innovation. Risk management, or enterprise risk management (Brustbauer 2016; Reboud and Séville 2016), is viewed as a major concern for managers today and the number of large companies having a risk manager is growing. However, within the context of new entrepreneurial ventures the dynamics are different, because such businesses are particularly risky, and face greater uncertainty. This is particularly the case in innovation where structured, systematic approaches are necessary.

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Authors and Affiliations

  1. University of Western Australia, Crawley, WA, Australia

    Tim Mazzarol

  2. Burgundy School of Business, Dijon, France

    Sophie Reboud

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  1. Tim Mazzarol
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  2. Sophie Reboud
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Mazzarol, T., Reboud, S. (2020). Risk Management in Innovation. In: Entrepreneurship and Innovation. Springer Texts in Business and Economics. Springer, Singapore. https://doi.org/10.1007/978-981-13-9412-6_8

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