The risks involved are, namely, excessive perceived economic risks uncertain demand for innovative goods or services dominated market by established businesses high direct innovation costs lack of information experiencing extraordinary situations higher than expected competitive pressure trademark or copyright problems

Conclusion

It would not be wrong to say that Maersk is a company that has its strategies based on innovation or that innovation is an integral part of its strategy. Although innovation is essential in today's world market, it has its pros and cons. It is not enough just to encourage employees to take risks. The organization's culture must communicate clearly how the innovators who take intelligent risks will be supported and rewarded. Too many organizations say that they want employees to take risks but reward only final success or worse, punish those who fall short because they moved beyond the boundaries of the known, safe choices. Maersk focuses on modifying aspects of the culture so that the employees receive consistent and positive messages about initiating change and innovation (Hanekamp, 2007). Skills are developed to stimulate, support,...

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