A New Model of Human Needs as the Foundation for Innovation Management

A basic synergy requirement is for the participants to jointly perceive sufficient values in their respective investments. Specifically, it is a balance between the perceived direct expected values generated by their investments and the perceived expected risks of losing the investments. Value arises from human need fulfillment and risks relates to the probability of not fulfilling these needs. Thus, understanding of human needs provides a foundation for effective innovation management, as it helps determine motivations for participation and perceiving synergistic values and risks in the innovation implementation process by these major participants.