Risk and Crowdsourcing Innovation

Posted in crowdsourcing, open innovation, Risk Management, Risk Management for Crowdsourcing with tags , , , on 2009/04/28 by liamaral

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.

 

 

Doing literature review – I

Posted in open innovation with tags , on 2009/04/08 by liamaral

Students have questions about the best strategy to adopt to make a good review of the literature to support their research. So I will describe about my own literature review strategy.

For this research we have mainly chosen to focus on research work that explicitly use the terms open innovation, crowdsourcing and risk management in the title, abstract, topics or keywords. We have also restricted our search to the social sciences, which in the searched databases also includes technology and engineering. Also we have not included industry reports or editorial material. First, we perform an in-depth review of Open Innovation (OI) papers published in quoted scientific journals. We searched the two major databases of management journals and an additional innovation journal not covered by the databases: ISI Web of Knowledge database (Social Sciences Citation Index-SSCI) and Scopus Database, complemented by Scholar Google Current Contents as database.

Since Open Innovation and crowdsourcing concepts are recent, we chose to perform an exhaustive review of the scientific papers published in quoted journals since 2000. Thus, we looked in SSCI and Scopus for any paper containing the following expressions in Social Sciences database, in title, abstract, topic or keywords: open innovation, external innovation, innovation licensing, technology licensing, technology in-licensing, technology out-licensing and crowdsourcing. Then we repeated the same procedures for keywords related to risk management and innovation or risk management and personal values. There are, of course, many researchers that investigate issues closely related to these subjects without using these terms, so we come to their articles through the citations made in the texts obtained by the search engine above and asking for others titles to my thesis supervisors. We have found 58 records for the first search keywords, including 14 book reviews and three proceedings papers , and 3 articles for the keywords “risk management and innovation”. There weren´t any records for the keywords “risk management and personal values”.

Furthermore, a search for books with “open innovation” and “risk management and innovation” in the title was made on the site of Amazon.com to identify books published in the field.  We found 20 books about open innovation, including one book review and some short books, and two other books about risk management and innovation (one of them written in German). All books are included in the literature overview.

Using the current method we have a comprehensive analysis of the journal articles published in the databases in the specified time period and about their content. Papers in trade journals and in journals that only refer to original papers were removed. Editorial material was also removed. Book reviews have been listed but are not included in the literature analysis.

I hope that the report of my strategy  may be useful to your future works.

What is crowdsourcing innovation

Posted in open innovation with tags , on 2009/04/08 by liamaral

The term crowdsourcing was coined by Jeff Howe and Mark Robinson in June 2006 issue of Wired magazine (Howe, 2006) , it describes a new web-based business model that harnesses the creative solutions of a distributed network of individuals through what amounts to an open call for proposals. In other words, a company posts a problem by an open call and a vast number of individuals offer solutions to the problem. The winning ideas are awarded some form of a bounty and the company mass produces the idea for its own gain. This strategy can be applied in two ways: (1) by internally identifying business problems and needs for innovation felt by individuals, teams and organizational units (seekers) that are then made available to a community of internal and external specialists motivated to provide their knowledge and skills to address those problems. In doing so brings, employees of the company can improve their internal visibility and be empowered in decision processes across the company; (2) by placing the company’s innovation challenges to a brokering service that can find the right people to present the solutions (solvers).

How to manage risks in crowdsourcing innovation?

Posted in Risk Management for Crowdsourcing with tags , , on 2009/04/07 by liamaral

On my PhD thesis research I will build the theoretical framework that will make possible an enhanced understanding of this complex socio-organizational problem related with risk taken and crowdsourcing innovation.  So the research question will concentrate on each of the following items:

        What risks are associated with the prospect of crowdsourcing  innovation

        What model of risk management to implement based on a model of crowdsourcing  innovation

        What human aspects should be considered and what management style should be adopted

        What kind of technology architecture is most appropriate to implement a risk management model associated to  crowdsourcing innovation

Research in progress

Posted in open innovation with tags , on 2009/04/07 by liamaral

Our research appears to a qualitative approach, aimed at deepening scientific knowledge of managing the risks associated with crowdsourcing innovation and at providing a methodological tool to manage risks in technology-based firms or in brokering services specialized in the innovation needs of SMEs.

Hello dear friends!

Posted in Uncategorized on 2009/04/07 by liamaral

Hi, I´m a PhD student at a Technology and Information Systems doctoral program ( University of Minho). Our research appears to a qualitative approach, aimed at deepening scientific knowledge of managing the risks associated with crowdsourcing innovation and at providing a methodological tool to managing the risks int technology-based firms or in brokering services specialized in the innovation needs of SMEs.