Risk management for companies focused on innovation processes

Etges, Ana Paula Beck da Silva; Souza, Joana Siqueira de; Neto, Francisco José Kliemann

doi:10.1590/0103-6513.220916

Cited by 14 publications

(8 citation statements)

References 29 publications

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“…This study further examined the impact of ERM on BMI and found significant positive results that supported H3. This is in line with Etges et al (2017) who reported that there is a benefit to implementing risk management practices in the strategic performance model of innovative organizations. However, numerous companies are still choosing to apply any risk management in the BMI process (Taran et al 2013).…”

Section: Discussionsupporting

confidence: 89%

“…Besides, the implementation of risk management through the innovation process decreases the risks linked to the uncertainty and density of developing and implementing a new business model (Taran et al 2013). Therefore, there is a benefit to implement risk management practices in a strategic performance model for innovative organizations (Etges et al 2017). BMI needs heavy investment and has a high level of uncertainty, complexity, unavoidably and risk.…”

Section: Erm and Bmimentioning

confidence: 99%

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Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Al-Nimer

Abbadi

Al-Omush

et al. 2021

JRFM

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This study focused on scrutinizing the influence of Enterprises Risk Management (ERM) on firm performance with a mediating role of Business Model Innovation (BMI). For the purpose, data from 228 Jordanian firms was collected and analyzed. The results indicated that the ERM practices have a significant influence on BMI and financial firm’s performance. The BMI significantly contributed to the financial and nonfinancial performance, whereas it displayed insignificant effects regarding environmental performance. The BMI fully mediated the relationship between ERM practices and financial performance, where a partial mediating effect was observed for the path between ERM practices and nonfinancial performance, while showed no mediating role between the ERM practices and environmental performance. Economies of countries like Jordan are hereby urged to implement the formal ERM practices and to financially educate their top management teams to apply the BMI to gain first-rate performance. This study also encourages the researchers from other countries to extend this model to their economies to unleash useful insights.

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Section: Discussionsupporting

confidence: 89%

Section: Erm and Bmimentioning

confidence: 99%

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Al-Nimer

Abbadi

Al-Omush

et al. 2021

JRFM

View full text Add to dashboard Cite

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“…If the implementation of autonomous ships does not bring sufficient economic benefits, shipping companies most likely will not be interested in investing in such solutions due to the low ROI (Return On Investment). Innovative solutions are usually associated with a greater uncertainty concerning their outcome, thus, implying higher risks and a need for managing the latter [14], especially in the low-margin shipping industry [15].…”

Section: Fully Autonomous Shipmentioning

confidence: 99%

Costs and Benefits of Autonomous Shipping—A Literature Review

Ziajka-Poznańska

Montewka²

2021

Applied Sciences

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The development of autonomous ship technology is currently in focus worldwide and the literature on this topic is growing. However, an in-depth cost and benefit estimation of such endeavours is in its infancy. With this systematic literature review, we present the state-of-the-art system regarding costs and benefits of the operation of prospective autonomous merchant ships with an objective for identifying contemporary research activities concerning an estimation of operating, voyage, and capital costs in prospective, autonomous shipping and vessel platooning. Additionally, the paper outlines research gaps and the need for more detailed business models for operating autonomous ships. Results reveal that valid financial models of autonomous shipping are lacking and there is significant uncertainty affecting the cost estimates, rendering only a reliable evaluation of specific case studies. The findings of this paper may be found relevant not only by academia, but also organisations considering to undertake a challenge of implementing Maritime Autonomous Surface Ships in their operations.

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“…There are also practical methods for managing project risks. In particular, the enterprise risk management (ERM) concept (Committee of Sponsoring Organizations of the Treadway Commission, 2007) is widely used to identify all the risks a company is exposed to (Etges, 2017). Similarly, ISO 31000 focuses on structuring the risk management process (International Organization for Standardization, 2009).…”

Section: Volmentioning

confidence: 99%

Evaluation of Risk Impact on Implementation of Innovation Projects Within the Framework of Machine-Building Quasi-Integration Structures

Solntsev

Zhygalkevych

Kravchenko

2020

BJES

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The risk management of innovation project can improve the level of risk control of quasi-integration structures (QIS), so as to make more effective decisions, reduce investment losses and achieve mutual benefit as well. Therefore, an assessment of the risk impact on implementation of innovation project makes this study relevance. The purpose of this paper is to analyze the impact of market risks on the success of innovative QIS engineering projects with the involvement of an economic-probabilistic model based on a conjoint analysis. Research methodology. The article substances the feasibility and results of the application of the method of conjoint analysis – one of the methods of mathematical psychology – to assess the impact of risks on the effectiveness of innovative projects implemented within quasi-integration structures in the engineering complex. Findings. The most likely scenarios for implementing an innovative project in terms of the impact of risk events on the financial result had been found with a help of a conjoint procedure with a fractional factorial design. The relative impact of each risk on the success of the innovation project was evaluated. The rule of deciding on the eligibility of an innovative project by the participants of machine-building QIS was formulated on the basis of the technique of the internal rate of investment return (IRR). Research limitations. The developed methodology is proposed to be used in assessing the impact of risks on innovative projects within machine-building quasi-integration structures. The proposed method of assessing the impact of risks on the financial results of innovative projects within the machine-building QIS can be used in more general situations. Practical implications. The methodology was tested on the example of an innovation project within an innovation and technology cluster, which included six participants: mechanical engineering companies, a service company, a scientific institution and an educational institution. The market and specific inter-corporate risks that influence the results of innovative projects within machine-building QISs were identified and evaluated for operationalization. According to the results of implementation of the methodology, the feasibility of implementing an innovative project within the innovation-technological cluster was substantiated. Originality/value. The scientific novelty of this study is the use of a conjoint analysis methodology to assess the impact of market risks.

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Risk management for companies focused on innovation processes

Cited by 14 publications

References 29 publications

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. Observations from Jordan

Costs and Benefits of Autonomous Shipping—A Literature Review

Evaluation of Risk Impact on Implementation of Innovation Projects Within the Framework of Machine-Building Quasi-Integration Structures

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