Assessing risks in advance of deciding on innovation is the industry’s way of maximizing the areas where there appears to be more control. It must be noted however, that the decision making process itself may prejudice risk management. Risk management can both influence the decision making process as well as be influenced by it in business. There is much at stake in business and it is no surprise that innovators strive to make decisions as rational as practically possible. The greater the control the industry has over R&D the more likely it is that decisions about innovation are
Assessing risks in advance of deciding on innovation is the industry’s way of maximizing the areas where there appears to be more control. It must be noted however, that the decision making process itself may prejudice risk management. Risk management can both influence the decision making process as well as be influenced by it in business. There is much at stake in business and it is no surprise that innovators strive to make decisions as rational as practically possible. The greater the control the industry has over R&D the more likely it is that decisions about innovation are