What is it about?
Innovation theory clearly differentiates between innovation processes and entrepreneurial processes through its distinction between uncertainty and risk. The authors’ premise is that innovation and entrepreneurship are interdependent, where the role of the innovator is to reduce uncertainty, while the role of the entrepreneur is to manage uncertainty to a point where risk can be assessed.
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Why is it important?
The authors contend that once uncertainty and risk management aspects are isolated, their relationship to innovation performance can be investigated. The results indicate that uncertainty management does positively impact innovation performance, while a risk management approach impacts firm performance. Our model suggests that it may be helpful to segregate uncertainty and risk at the entrepreneurship-innovation interface.
Perspectives
Our model suggests that it may be helpful to segregate uncertainty and risk at the entrepreneurship-innovation interface.
Dr David C. Roach
Dalhousie University
Read the Original
This page is a summary of: Innovation, effectuation, and uncertainty, Innovation, September 2022, Taylor & Francis,
DOI: 10.1080/14479338.2022.2117816.
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