Abstract:
Introducing new knowledge into production processes implies a lengthy process with significant time costs and uncertain future implementation context which creates risks. Therefore, risk management processes research within the framework of knowledge generation strategy formation is of great academic interest. New knowledge generation processes are mostly related to time periods between taking a decision on organizing production and introduction of new knowledge into economic activities. Significant time costs predetermine appearance of future new knowledge implementation context leading to appearance of different generation types. The risk of new knowledge generation is a notion reflecting the degree of reality of undesirable development of economic actor's activities aimed at new knowledge generation in this decision - making context. The aim of the research is to develop a theory and practice of managing risks in the process of generating new knowledge identifying patterns of knowledge generation risks spread depending from cost structure for different types of knowledge. Empirical results show that in terms of knowledge generation importance of internal risks is much higher than that of external ones, weight coefficient of internal risks 63,8% and of external - 36,2%. Data analysis demonstrates that a low level of generating and implementing new knowledge in ecological and social areas in case of substantial demand from economic agents can be partly explained by high-risk indicators for this area of activities. There is an interrelation between the risk of knowledge generation and the structure of costs for different types of knowledge: the larger the costs for research are, the less the risk of functional knowledge generation is and the higher the risk of generating operational knowledge is. The main conclusion to be done based on abovementioned patterns is that investment into functional knowledge is less risky compared to investing in operational knowledge. It decreases barriers hindering functional knowledge stimulation.
