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Title
Persuading stakeholders for innovation : exploring psychology factors / Patrick Manhardt
AuthorManhardt, Patrick
CensorLettl, Christopher
PublishedWien, 2016
Description56 Blätter
Institutional NoteTechnische Universität Wien, Master Thesis, 2016
Institutional NoteWirtschaftsuniversität Wien, Masterarbeit, 2016
LanguageEnglish
Document typeMaster Thesis
Keywords (EN)innovation / radical innovation / persuade / innovation barriers
URNurn:nbn:at:at-ubtuw:1-6103 Persistent Identifier (URN)
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 The work is publicly available
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Persuading stakeholders for innovation [0.69 mb]
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Abstract (English)

The paper designs a new model of how potential stakeholders can successfully be persuaded to invest into radical innovations. The problem innovators pitching radical innovative ideas face is the lack of information available. The absence of information regarding the potential markets, product performance and financial planning of the new innovation poses challenges to presenting a comprehensive long-term innovation business plan. The classical presentation tools such as the business plan orientated towards a long term business analysis cannot be applied fully, because the investor lacks essential information due to the novel radical nature of the innovation. To replace this lack of information I have designed a new model using new alternative persuasion ways that extract new approaches from different scientific areas relevant to the phenomenon of persuasion and decision making. The method of literature review has been applied to investigate different scientific areas and gain new perspectives relevant to persuasion. At a second stage these insights are applied to the specific conditions of persuading radical innovations. This new adapted model, defined as PsyEntMar model, combines the new insights in the field of entrepreneurship, psychology and neuromarketing as helpful tools to persuade stakeholders to invest in radical innovations. The conclusion is a comprehensive persuasion model specifically designed to pitching radical innovations in a more efficient and appropriate way that compensates for the lack of information through innovative persuasion tools with the objective to develop an individually customized, comprehensive and credible innovation presentation model to the potential stakeholders.

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