Risk vs. Opportunity in Innovation

by Brian J. Dooley

Corporate survival and growth depend on innovation to provide new products and new ways of doing business. Innovation cannot exist without risk, yet organizations must be risk-averse to survive in difficult times. This creates a paradox, as a key risk is the inability to innovate. The relationship between risk and opportunity is a difficult one. Risk presents both challenges and new possibilities. Innovation is an inherently risky process.