Risk and Crowdsourcing Innovation
It is very important for managers identify the risks associated with projects and integration of project results, new processes or technologies, in the business model of the company or group of companies. Risk and uncertainty are inherent in innovation activities where objectives are path generation, i.e. breaking away from path dependencies to create new markets with pioneering technologies (Ahuja, et al., 2001). The risk management process includes the stages of defining management policies, procedures, monitoring practices of the risk life-cycle and of the tasks required to mitigate the risk. The monitoring of the risk’s life-cycle includes establishing the context, identifying, analyzing, evaluating, treating, monitoring and reviewing the risk.