Governance of new product development and perceptions of responsible innovation in the financial sector: insights from an ethnographic case study
Asante, Keren; Owen, Richard J.; Williamson, Glenn
Date: 17 January 2014
Journal
Journal of Responsible Innovation
Publisher
Taylor and Francis
Publisher DOI
Abstract
We describe an ethnographic study within a global asset management company aimed at understanding the process and governance of new product development and perceptions of responsible innovation. We observed innovation to be incremental, with a clearly - structured stage gating model of governance involving numerous internal and external ...
We describe an ethnographic study within a global asset management company aimed at understanding the process and governance of new product development and perceptions of responsible innovation. We observed innovation to be incremental, with a clearly - structured stage gating model of governance involving numerous internal and external actors that was framed by regulation and co-ordinated by a small product development team. Responsible innovation was framed largely in terms of considering client needs when innovating and the understanding of operational, legal, regulatory and reputational risks. Staff perceived the company as having an inherently cautious culture, where the probability of bringing something destructive to market was perceived as being low. We conclude that the observed stage gating architecture offers considerable scope as a mechanism for systematic embedding of more broadly framed, emerging concepts of responsible innovation.
Management
Faculty of Environment, Science and Economy
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