Risk-conscious value creation

Marinka Lanne, Markus Jähi, Mervi Murtonen

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

Abstract

The concepts of value creation and risk management are commonly used by management researchers, business consultants and firms. However, the interrelationship of these concepts is rarely considered in academic research. This paper approaches value creation from the perspective of risk management. The main research question is "How the concepts of value creation and risk management interrelate?" In addition, advantages and disadvantages resulting in tying these concepts together are dis-cussed. The results show that even though risk is acknowledged as an important variable in value creation, the current discussion does not pro-ceed from risk identification further to risk analysis and management. The paper concludes that tying up the concepts could bring some benefits as well as new opportunities to consider risk-conscious value creation.
Original languageEnglish
Title of host publicationProceedings of 24th Annual RESER Conference 2014
Place of PublicationEspoo
PublisherVTT Technical Research Centre of Finland
Pages843-852
ISBN (Print)978-951-38-7436-0
Publication statusPublished - 2014
MoE publication typeA4 Article in a conference publication
Event24th Annual RESER Conference, RESER 2014: Services and New Societal Challenges: Innovation for Sustainable Growth and Welfare - Helsinki, Finland
Duration: 11 Sep 201413 Sep 2014
Conference number: 24

Conference

Conference24th Annual RESER Conference, RESER 2014
Abbreviated titleRESER 2014
CountryFinland
CityHelsinki
Period11/09/1413/09/14

Fingerprint

Value creation
Risk management
Tying
Consultants
Academic research
Disadvantage
Risk identification
Risk analysis
Interrelationship

Keywords

  • risk management
  • value creation
  • risk-consciousness

Cite this

Lanne, M., Jähi, M., & Murtonen, M. (2014). Risk-conscious value creation. In Proceedings of 24th Annual RESER Conference 2014 (pp. 843-852). Espoo: VTT Technical Research Centre of Finland.
Lanne, Marinka ; Jähi, Markus ; Murtonen, Mervi. / Risk-conscious value creation. Proceedings of 24th Annual RESER Conference 2014. Espoo : VTT Technical Research Centre of Finland, 2014. pp. 843-852
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Lanne, M, Jähi, M & Murtonen, M 2014, Risk-conscious value creation. in Proceedings of 24th Annual RESER Conference 2014. VTT Technical Research Centre of Finland, Espoo, pp. 843-852, 24th Annual RESER Conference, RESER 2014, Helsinki, Finland, 11/09/14.

Risk-conscious value creation. / Lanne, Marinka; Jähi, Markus; Murtonen, Mervi.

Proceedings of 24th Annual RESER Conference 2014. Espoo : VTT Technical Research Centre of Finland, 2014. p. 843-852.

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

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N2 - The concepts of value creation and risk management are commonly used by management researchers, business consultants and firms. However, the interrelationship of these concepts is rarely considered in academic research. This paper approaches value creation from the perspective of risk management. The main research question is "How the concepts of value creation and risk management interrelate?" In addition, advantages and disadvantages resulting in tying these concepts together are dis-cussed. The results show that even though risk is acknowledged as an important variable in value creation, the current discussion does not pro-ceed from risk identification further to risk analysis and management. The paper concludes that tying up the concepts could bring some benefits as well as new opportunities to consider risk-conscious value creation.

AB - The concepts of value creation and risk management are commonly used by management researchers, business consultants and firms. However, the interrelationship of these concepts is rarely considered in academic research. This paper approaches value creation from the perspective of risk management. The main research question is "How the concepts of value creation and risk management interrelate?" In addition, advantages and disadvantages resulting in tying these concepts together are dis-cussed. The results show that even though risk is acknowledged as an important variable in value creation, the current discussion does not pro-ceed from risk identification further to risk analysis and management. The paper concludes that tying up the concepts could bring some benefits as well as new opportunities to consider risk-conscious value creation.

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Lanne M, Jähi M, Murtonen M. Risk-conscious value creation. In Proceedings of 24th Annual RESER Conference 2014. Espoo: VTT Technical Research Centre of Finland. 2014. p. 843-852