Innovation and Risk Management : A Cute Couple or Opposing Forces?

Abstract

Creating new service innovations has been a popular topic in the scientific literature as the importance of service value production has been identified in the recent decade or so. Fuzzy Front End innovation process is used to create new service innovations but it has often proven as a complex process with high uncertainty. The integration of risk management and innovation management processes has been little discussed subject in the scientific literature, however there can be seen clear benefits in this. In this research we utilize scientometrics to illustrate the lack of research that takes into account the risk management perspective in innovations. Furthermore, we propose an integrated model by synthesising the double diamond service development model with innovation management and risk management.