Risk managing contractual routes to effective innovation procurement: How public organizations can boost their success in attracting external innovation partners

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

This research paper concentrates on the public procurement of innovations (PPI) within the EU as a mechanism for stimulating private sector R&D efforts that solve public organization-identified problems. The authors encourage less risk aversion and greater risk management to encourage the increased use of cost-plus contracts to spread some risk between the procurer and supplier, which should in turn attract more innovative companies to participate in PPI exercises.

Originality/value

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2019), "Risk managing contractual routes to effective innovation procurement: How public organizations can boost their success in attracting external innovation partners", Strategic Direction, Vol. 35 No. 10, pp. 18-20. https://doi.org/10.1108/SD-07-2019-0130