2014

Lanne, Marinka; Jähi, Markus; Murtonen, Mervi

The concepts of value creation and risk management are commonly used by management researchers, business consultants and firms. However, the interrelationship of these concepts is rarely considered in academic research. This paper approaches value creation from the perspective of risk management. The main research question is "How the concepts of value creation and risk management interrelate?" In addition, advantages and disadvantages resulting in tying these concepts together are dis-cussed. The results show that even though risk is acknowledged as an important variable in value creation, the current discussion does not pro-ceed from risk identification further to risk analysis and management. The paper concludes that tying up the concepts could bring some benefits as well as new opportunities to consider risk-conscious value creation.