The dangers of pursuing innovation at all costs: Real risk lessons from Florida's technology firms on balancing performance and innovation

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 inter-relationships between technology orientation (TO), company performance, risk-taking propensity, and innovativeness. The responses from the Florida-based technology firm managers revealed that too much TO effort can cause innovations to fall flat on their face. Up to the optimum level, however, increasing TO and innovativeness drove company performance. Risk appetites also impact the innovativeness-performance relationship, by enhancing it where innovativeness is low, and by mitigating the diminishing return of the innovativeness-performance dynamic whenever the amount of innovativeness was high.

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

(2021), "The dangers of pursuing innovation at all costs: Real risk lessons from Florida's technology firms on balancing performance and innovation", Strategic Direction, Vol. 37 No. 9, pp. 27-29. https://doi.org/10.1108/SD-08-2021-0081