| Summary: | 碩士 === 國立高雄應用科技大學 === 國際企業系 === 100 === The personal risk preference of the entrepreneur is an important factor that impacts the existence of the business and the success of its product developments. In the process of new product development, value innovation strategies play equally important roles in every business. This study examined three types of entrepreneurial risk preferences: “risk-loving,” “risk-neutral,” and “risk-averse” to study the opportunities for value innovation and new product development by small and medium enterprises amidst decision making and external factors. This study also conducted in-depth interviews with eight entrepreneurs from Taiwan and China’s food manufacturing industry. Our study indicated that entrepreneurs tend to be more conservative during the market development stage when dealing with new clients, external markets, and insufficient personnel. They tend to deal with timing, overall planning, and product feasibility neutrally, while using goverment funding and investing progressively to develop new products. In terms of product value innovation, the entrepreneurs tend to favor the improving and upgrading of equipments, reallocation of raw materials, and redesign of product packaging in order to give the product a new life. The research findings could be used by the industry as a reference for new product investments and value innovation.
Keywords: value innovation, risk preference, new product development
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