Management of knowledge generation risk: Empirical research of the industrial enterprises

Abstract

The research aims is to develop the theory and practice of managing risks in the process of generating new knowledge and identify patterns of knowledge generation risks spread depending on cost structure for different types of knowledge. Firstly, authors formed the stratified random sampling by way of stratification of the parent population. The list of companies whose innovative programs were chosen for further analysis consisted of 102 enterprises, from six industries The second stage, to identify the pattern of increase knowledge process and formulating recommendations in the field of knowledge risk management the six focus group interviews with 108 executives as carried out. The third stage included structured interviews with 24 representatives of leading organizations in the field of the innovative process. Empirical results show that in terms of knowledge generation importance of internal risks is much higher than that of external ones, weight coefficient of internal risks 63,8% and external - 36,2%. There is an interrelation between the risk of knowledge generation and the structure of costs for different types of knowledge. The larger the costs for research are, the less the risk of functional knowledge generation is and the higher the risk of generating operational knowledge is. Following the study, there is an awareness of the importance of differentiation of new knowledge and innovations during the developing of competitive strategy of the enterprise and costs planning on R&D. When the managers know the potential risks of knowledge generation, they could avoid or neutralize the unfavorable consequences. Analysis of academic publications lead the authors to the conclusion that despite the existence of individual research into knowledge generation and increase the strategy formation process. There is no research devoted to identifying interdependence between risk level and cost structure of different knowledge. © 2019 Academic Conferences Limited. All rights reserved.