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Recent News and Articles on the Keywords: risk + deal + innovation  Related to the article below (Last Update: 5/13/2008)

Second lease of Life
Business Standard, India -
However, they need to be augmented with some innovation," says Tanuj Kapilashrami, the India head of HR at HSBC. Social networking sites provide access to ...
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ic Wales, United Kingdom -
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Economics and the Entrepreneur
The Claremont Institute, CA -
Parker notes that Galbraith emphasized as contemporary problems "the constant, unreflective quest for technological innovation" and "the worship of ...
Focus on the Live-Licensing and In-Life Testing: R and D Processes ...
Earthtimes (press release), UK -
... Market 2.6 Unmet Needs and Specialist Uses Will Continue To Drive Innovation 2.7 Patent Protection Strategies Form a Cornerstone of Lifecycle Management ...
Energy Risk Names Swiss Re transaction ?Deal of the Year?
The FINANCIAL, Georgia - May 8, 2008
... Deal of the Year announcement is featured in Energy Risk?s quarterly publication, Environmental Risk, which notes achievement, success and innovation in ...OTC:SWCEY
NEW AMERICA
Investor's Business Daily (subscription) -
Ramsey said the company is also looking to make buyouts in the biotech field to "spread our innovation footprint." All this activity means that seeds now ...
Want to succeed? Plan to fail
Bangkok Post, Thailand - May 7, 2008
FOne of the cornerstones of the corporate culture of the long-term innovation leader 3M is the so-called McKnight Principle: ''Mistakes will be made (by ...
Intercell AG to Acquire Iomai Corporation to Expand Late Stage ...
PR Newswire (press release), NY -
Commenting on the transaction, Gerd Zettlmeissl, CEO of Intercell, said: "This transaction further expands our leadership in vaccine innovation, ...IOMI
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Daily Mirror, Sri Lanka -
Technological innovation has changed the lives of human beings tremendously. The technological change, particularly in the ICTs, Information and ...
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$5 million for the One North Carolina Small Business Innovation Research Program to assist in capturing federal innovation research grants.
Source: Google News

[BOOK] Financial Innovation and Risk Sharing
F Allen, D Gale - 1994 - books.google.com
... are interested in the various ways in which societies deal with risk, and that ... in
analyzing the impact of decisions about financial innovation on economic ...

-
S Rose-Ackerman - J. Legal Stud., 1980 - HeinOnline
... Risk sorting of voters remains unlikely, and the small ... holder of the higher office
must deal with some ... a federal structure can en- courage innovation by lower ...

[BOOK] The new financial order: risk in the 21st century -
RJ Shiller - 2003 - pup.princeton.edu
... At a time of fundamental innovation in risk management ... deals, but they would surpass
such deals in scope ... Beyond these six ideas for risk management, this book ...

Innovation and risk-taking in a transitional economy A comparative study of chinese managers and … -
J Tan - Journal of Business Venturing, 2001 - Elsevier
... Little premium is placed on innovation and risk-taking when the ... environment
characterized by ownership diversity, such issue matters a great deal. ...

[BOOK] The Silicon Valley Edge: A Habitat for Innovation and Entrepreneurship -
CM Lee - 2000 - books.google.com
... First-Hand View of the Region's Growth 59 E. FLOYD KVAMME 5 Innovation in Business ...
14 The Valley of Deals: How Venture Capital Helped Shape the Region 295 DADO ...

[BOOK] Innovations and Risk Taking: The Engine of Reform in Local Government in Latin America and the … -
TEJ Campbell - 1997 - books.google.com
... aims to gain new insights into this risk taking process. ... Context and Problem: Sustaining
Innovation After the Quiet ... were left with a good deal of discretion on ...

Financial innovation and bank risk taking -
AM Santomero, JJ Trester - Journal of Economic Behavior and Organization, 1998 - Elsevier
... the bank to raise a great deal of capital ... by increased asset liquidity, and the risk
taking by ... Such innovation encourages credit risk taking and increases ...

Financial innovation, precautionary saving and the risk-free rate -
R Elul - Journal of Mathematical Economics, 1997 - Elsevier
... and states and there is no aggregate risk, if the ... we must immediately confront is
that financial innovation generally leads ... But we are able to deal with this ...

[PDF] Financial Innovation and the Management and Regulation of Financial Institutions -
RC Merton - Journal of Banking and Finance, 1995 - people.hbs.edu
... that it is totally inadequate to deal with risk ... topical subject: the issue of
systemic-risk consequences of ... As noted at the outset, innovation in general, and ...
-

[CITATION] Risk, uncertainty, and the subsistence farmer: Technological innovation and resistance to change in …
CR Wharton - Studies in economic anthropology, 1971

Source: Google Scholar

Tolerate, accommodate, innovate — how doctors deal with the risk embedded in the medical system

Risk is an inherent element of the hospital system and the resulting dangers are often normalised by medical staff to allow them to do their job, according to research by a University of Nottingham academic.

 

Dr Justin Waring, Lecturer in Medical Sociology and Health Policy at the University, found that medical staff were inevitably pessimistic about the ability of their management team to understand the level of risk that doctors and nurses dealt with on a day-to-day basis. They felt that management were too far removed from the realities of clinical safety to judge best practice and that the priorities and targets that drive risk management — such as cost savings and cutting waiting times — diverged from those of the clinicians.

 

Dr Waring identified the operating theatre as a complex 'hub' within the hospital system, which had a symbiotic relationship with other departments — including surgical wards, the anaesthetic department, sterile services and lab and imaging services. Problems in the operating theatre were found to 'spill over' into related departments, creating 'cascade chains' of risk, which clinicians in all areas then had to deal with.

 

As a result, medical staff develop ritualistic behaviours that are based on shared cultural norms and expectations — just to get the job done. They tolerate and endure levels of risk and sub-standard working; accommodate or accept the presence of risk by making small modifications to clinical practice; and innovate, developing new procedures to work around risk. This emphasis on coping has come to be seen as a mark of professionalism among medical staff.

“The study found minimal participation in incident reporting and risk management among clinicians — not because they were trying to conceal dangers and mistakes, but because coping was the mark of a professional,” Dr Waring said. “Risk is part of a clinician's daily life; it's inherent in medical culture. Doctors can only work to minimise and control risk; they don't feel that they can eliminate it totally.”

 

The research team identified these key themes of hospital culture during an 18-month ethnographical study in the operating department of a large teaching hospital. They carried out 300 hours of observations on site and conducted around 80 interviews with staff. The study was funded by the Department of Health. 

 

Dr Waring has already presented his findings to Sir Liam Donaldson, Chief Medical Officer and the UK's key advisor to the government on healthcare issues and he is now contributing to a review of NHS conducted by Professor Lord Darzi, Parliamentary Under Secretary of State at the Department of Health.. This review coincides with the 60th anniversary of the NHS. A follow-up study into the way medical professionals share patient information in a bid to eliminate risk is set to begin in the New Year.

 

Dr Waring said: “These studies reveal neglected but critical perspectives on patient safety. Critical in the sense that they are not just offering an alternative to mainstream research but also because they are of immense importance if we really want to understand and tackle the root causes of safety in healthcare. “

 

Dr Waring is based in the Centre for Well-being, Health and Social Care in the University's School of Sociology and Social Policy.

 

 

— Ends —


 

Notes to editors: The University of Nottingham undertakes world-changing research, provides innovative teaching and a student experience of the highest quality. Ranked by Newsweek in the world's Top 75 universities, its academics have won two Nobel Prizes since 2003. The University is an international institution with campuses in the United Kingdom, Malaysia and China.

 

More information is available from Dr Justin Waring on +44 (0)115 951 5420, justin.waring@nottingham.ac.uk; or Tara de Cozar, Internal Communications Manager in the Communications office at The University of Nottingham, on +44 (0)115 846 8545, tara.decozar@nottingham.ac.uk.
 
 
 
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