Managing Opportunities, Risk and Uncertainties in New Business Creation - Working Report

Research output: Book/ReportReport

Abstract

This is a progress report of the work done at VTT within INNORISK project, a 3-year (2006-2008) joint research project between the Corporate Foresight Group (Cofi) of Åbo Akademi and VTT Technical Research Centre of Finland, is associated with the LIITO technology programme of Tekes". The focus of VTT's work in the project has been on the development of practical methods and tools for the management of opportunities, risks and uncertainties in new business creation. The INNORISK methods and tools aim to support decision making in companies at critical points of the innovation process when companies are creating new business. The methods help companies to identify phases and elements in their innovation process where specific managerial or development actions are needed. As a result, the fuzzy front-end of the innovation process is no longer so fuzzy. When elements and critical decision points in the front-end have been identified, and information as well as decision criteria needed have been defined, the front-end becomes controllable and actions for new business creation can be co-ordinated.
Original languageEnglish
PublisherVTT Technical Research Centre of Finland
Number of pages40
ISBN (Electronic)978-951-38-7138-3
Publication statusPublished - 2008
MoE publication typeD4 Published development or research report or study

Fingerprint

Risk and uncertainty
New business
Innovation process
Front-end
Finland
Fuzzy front end
Foresight
Research center
Information criterion
Decision making
Decision criteria
Critical point

Keywords

  • innovation management
  • innovation
  • foresight
  • portfolio management
  • opportunity recognition conceptualisation
  • commercialisation

Cite this

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title = "Managing Opportunities, Risk and Uncertainties in New Business Creation - Working Report",
abstract = "This is a progress report of the work done at VTT within INNORISK project, a 3-year (2006-2008) joint research project between the Corporate Foresight Group (Cofi) of {\AA}bo Akademi and VTT Technical Research Centre of Finland, is associated with the LIITO technology programme of Tekes{"}. The focus of VTT's work in the project has been on the development of practical methods and tools for the management of opportunities, risks and uncertainties in new business creation. The INNORISK methods and tools aim to support decision making in companies at critical points of the innovation process when companies are creating new business. The methods help companies to identify phases and elements in their innovation process where specific managerial or development actions are needed. As a result, the fuzzy front-end of the innovation process is no longer so fuzzy. When elements and critical decision points in the front-end have been identified, and information as well as decision criteria needed have been defined, the front-end becomes controllable and actions for new business creation can be co-ordinated.",
keywords = "innovation management, innovation, foresight, portfolio management, opportunity recognition conceptualisation, commercialisation",
author = "Jaakko Paasi and Pasi Valkokari and Pekka Maijala and Sirra Toivonen and Tuija Luoma and Riitta Molarius",
year = "2008",
language = "English",
publisher = "VTT Technical Research Centre of Finland",
address = "Finland",

}

Managing Opportunities, Risk and Uncertainties in New Business Creation - Working Report. / Paasi, Jaakko; Valkokari, Pasi; Maijala, Pekka; Toivonen, Sirra; Luoma, Tuija; Molarius, Riitta.

VTT Technical Research Centre of Finland, 2008. 40 p.

Research output: Book/ReportReport

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AU - Paasi, Jaakko

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AU - Toivonen, Sirra

AU - Luoma, Tuija

AU - Molarius, Riitta

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AB - This is a progress report of the work done at VTT within INNORISK project, a 3-year (2006-2008) joint research project between the Corporate Foresight Group (Cofi) of Åbo Akademi and VTT Technical Research Centre of Finland, is associated with the LIITO technology programme of Tekes". The focus of VTT's work in the project has been on the development of practical methods and tools for the management of opportunities, risks and uncertainties in new business creation. The INNORISK methods and tools aim to support decision making in companies at critical points of the innovation process when companies are creating new business. The methods help companies to identify phases and elements in their innovation process where specific managerial or development actions are needed. As a result, the fuzzy front-end of the innovation process is no longer so fuzzy. When elements and critical decision points in the front-end have been identified, and information as well as decision criteria needed have been defined, the front-end becomes controllable and actions for new business creation can be co-ordinated.

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