RISK FACTORS IN CREATING VALUE INNOVATION IN THE ORGANIZATION

Abstract

Purpose: Risk is a category more often taken into account in the planning processes in organizations. Risk is combined with activities of the organization in the fields of innovation and value management. One of the concepts for the development of the organization in terms of the variable environment is value innovation, which focuses on raising value for stakeholders, among others, by reducing costs and creating new factors carrying value (e.g. by innovation provided to the market). The aim of the article is an indication of how risk factors (both opportunities and threats factors) can determine the implementation and development of the concept of value innovation in the organization. Considerations apply to the example of UniGlass Poland company. Methodology: In the article, there are used the methods of analysis, synthesis and deduction, as well as a critical literature analysis and the so-called typical case study. Findings: Identification and risk analysis is a key step in implementation of the value innovation concept. Implementing risk into this concept gives an ability to continuously monitor the status of the organization and changes in the value chains. The risk factors, and in particular the opportunities factors, also provide the ability to see the potential values for stakeholders, as well as play a role of the starting point for estimating the value of activities related to the creation of these new values. Research limitation: The article presents only selected and most important aspects of implementation of the value innovation concept, and also contains an analysis of only a single case study (UniGlass Poland company) – therefore, specification more general conclusions and identification of universal mechanisms is not very convenient in the article. Originality: The article presents an innovative attempt to integrate two important categories in contemporary management sciences: risk and value innovation.