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Innovation Process, Decision-Making, Perceived Risks And Metrics: A Dynamics Test

Author

Listed:
  • GLENN BROPHEY

    (Nipissing University, 100 College Dr., North Bay, Ontario, P1B8L7, Canada)

  • ANAHITA BAREGHEH

    (Nipissing University, 100 College Dr., North Bay, Ontario, P1B8L7, Canada)

  • DAVID HEMSWORTH

    (Nipissing University, 100 College Dr., North Bay, Ontario, P1B8L7, Canada)

Abstract

Innovation processes result from a series of decisions and these are influenced by the perceived risks and success metrics faced by the decision-maker. Aiming to understand whether innovation risks and success metrics change during and between innovations, four hypotheses were developed and a questionnaire-based survey was adopted targeting managers of mechanically based manufacturers. Respondents were asked to indicate the importance of perceived risks throughout specific innovations for four domains of risk: marketing, technical, organizational and financial. Respondents were also asked to identify changes in type and magnitude of innovation risk and success metric. Descriptive and statistical tests were conducted to analyse the data. The results suggest that innovation risk changes in type and magnitude during and between innovations and success metrics change in type and magnitude during innovation. This study calls for situation specific research to provide helpful advice to practitioners.

Suggested Citation

  • Glenn Brophey & Anahita Baregheh & David Hemsworth, 2013. "Innovation Process, Decision-Making, Perceived Risks And Metrics: A Dynamics Test," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 17(03), pages 1-22.
    • Handle: RePEc:wsi:ijimxx:v:17:y:2013:i:03:n:s1363919613400148
    DOI: 10.1142/S1363919613400148
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    Cited by:

    1. Robbins Peter & O’Gorman Colm, 2016. "Innovation processes: do they help or hinder new product development outcomes in Irish SMEs?," The Irish Journal of Management, Sciendo, vol. 35(1), pages 104-107, April.
    2. Chris C. Gernreich & Sebastian Knop, 2019. "Empowering Creative Employees: Phase-Specific Support In The Front-End Of Innovation," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 23(08), pages 1-31, December.

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