Cloud-based business services innovation: A risk management model |
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| Institution: | 1. Georgia State University, Robinson College of Business, Tower Place 200, 3348 Peachtree Rd, NE Suite 500, Atlanta, GA 30326, USA;2. Southern University, 124 Roosevelt Steptoe Boulevard, Baton Rouge, LA 70813, USA;3. Georgia State University, Robinson College of Business, Tower Place 200, 3348 Peachtree Rd, NE Suite 500, Atlanta, GA 30326, USA;1. LIM Laboratory, University of Laghouat, Algeria;2. ERIC Laboratory, University of Lyon 2, France;3. JC College, University of Florida, USA;1. Independent Scholar, Logistics Management Expert, Menemen, Izmir, Turkey;2. Department of Management, Istanbul Commerce University, Istanbul, Turkey;3. Business Administration, American University of the Middle East, Kuwait;4. Department of Industrial Engineering, Istanbul Technical University, Istanbul, Turkey;5. Department of Management Science and Information Systems, Oklahoma State University, Stillwater, OK, USA;1. Gerald D. Hines College of Architecture and Design, University of Houston, 4200 Elgin St., Houston, TX 77204-4000, USA;2. I3B, Universitat Politècnica de València, Camino de Vera s/n, 46010 Valencia, Spain;3. Institute of New Imaging Technologies, Universitat Jaume I, Castellón, Spain;1. Electronics Department, Universidad Rey Juan Carlos, C\\ Tulipán, s/n. Madrid, Spain;2. NLP & IR Group, Departamento de Lenguajes y Sistemas Informáticos, UNED, C\\ Juan del Rosal, 16. Madrid, Spain;1. CERIST, Algiers, Algeria;2. USTHB, LRIA, Algiers, Algeria;1. University of North Carolina at Chapel Hill, 200 Manning Hall, Chapel Hill, NC 27599-3360, USA;2. Syracuse University, Hinds Hall 348, Syracuse, NY 13244-4100, USA;3. Kateryna Bondar International University of La Rioja Avenida de la Paz, 137, 26006, Logroño, Spain;4. Formerly of the Center for Technology and Innovation Management, CeTIM@ UniBw München, Werner-Heisenberg-Weg 39, 85577 Neubiberg, Germany |
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| Abstract: | Cloud computing providers and their software-as-a-service offerings have become more profuse and mature, making cloud technology an increasingly important platform for business services innovation. Although the cloud offers rich opportunities for transforming businesses—innovating existing services and introducing creative new ones—it also involves risks that business managers must identify and resolve to successfully drive innovation efforts. However, no comprehensive models are available to help managers assess and mitigate the risks they face. To address this void, we reviewed extant literature on cloud computing from a business innovation perspective to uncover the myriad challenges managers confront as they seek to leverage cloud technology in the ongoing transformation of their organization’s service offerings. Combining this systematic literature analysis with relevant theory, we synthesized an integrated model for managing risk during innovation of cloud-based business services. The model identifies three types of risks (services, technology, and process risks) and four types of resolutions (stakeholder engagement, technology development, innovation planning, and innovation control). The model also helps managers identify their organization’s general risk profile and link that profile to a specific configuration of resolutions. |
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| Keywords: | Business services Cloud technology Innovation Risk management Literature review |
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