Развитие теоретических положений управления рисками инновационной деятельности промышленных предприятий России в условиях цифровизации

The article considers the current issues of risk management of innovation activities of domestic enterprises in modern conditions. The feasibility of classifying innovation risks and the need to manage them is substantiated. A classification of external and internal innovation risks is developed, which takes into account objective influences such as the macroenvironment, namely: economic; political and legal; socio-demographic; environmental; technological and microenvironment: consumer; competitive; investment; supply; intermediary; contact and provide for the consideration of subjective influences, namely: the risks of making innovative decisions. The positive and negative aspects of innovation risk for an innovative enterprise are expanded. It is noted that innovation activity is one of the most risky types and requires a scientific and creative approach to identifying, assessing, monitoring and managing risks. By carefully organizing the innovation process, it is possible to achieve high efficiency, while minimizing the risk of failure. In addition, it is necessary to take into account such features of the implementation of innovative developments as a long period of time for their implementation and a significant number of participants involved in this process, including from various sectors of the economy. The stages of the innovation risk management process are defined, which encompass a set of measures and are aimed at its optimization. The ways of developing the innovative potential of the enterprise are indicated, providing production processes with new technology, equipment and the ability to produce new products, taking into account the risks that will inevitably accompany any innovations at all stages of their development and implementation

It is investigated that the tourism industry is an integral part of the national and world market and is considered as a promising direction of development in the world. This industry ranks second in the world economy after the computer and electronics industries. It is proved that the tourism industry is ahead of such industries as oil refining and automotive. The development of tourism became possible due to the scientific and technological progress of society and the introduction of a system of marketing management of tourism enterprises, that is, the creation of a market infrastructure. It is substantiated that management of marketing activities of tourist enterprises requires constant analysis of market trends, creativity in developing strategies and flexibility in responding to changing market conditions. Marketing and the marketing system are such basic phenomena that they cannot be considered as a separate function of business. It is investigated that success in business is determined not so much by the product that it offers as by its consumers. All definitions hide three aspects of the concept of marketing: the active aspect - market penetration; analytical aspect - understanding of markets; ideological aspect - way of thinking. Most often, one can observe trends in the decline of the concept of marketing to its active dimension, that is, to a series of sales techniques, and an extreme underestimation of its analytical aspect. It is analysed that in modern conditions of management the effective development of enterprises of the tourism industry of Ukraine is complicated by martial law, difficult economic and political situation; increased competition due to the lack of a proper system for coordinating the activities of the enterprise. In this situation, a significant interest for domestic enterprises of the industry is a modern marketing concept, the introduction of marketing measures in the management of enterprises, advanced methods of marketing influence on the formation of market demand, the competitive position of the tourist enterprise. It is proved that effective management of marketing activities of enterprises in the field of tourism is a rather complex economic, organizational and social phenomenon. This management requires a long process of activity, which should take into account the possible change in the state of the object of control, the emergence of the latest laws, principles and methods. The system of management of marketing activities of tourist enterprises includes knowledge, skills, abilities, information and human technologies of business communication of actual and potential consumers of the tourist product and managers of the enterprise

The nature and peculiarities of formation of risks of economic activity of enterprise are researched. Expediency of application of instruments of adaptive risk management of economic activity of enterprise on the basis of use of the situational approach and study of the risk management system in dynamics is substantiated. A model of adaptive risk management of economic activity of enterprise on the basis of precedents has been formed, which includes subsystems of active and reactive risk management. Important components of influence on the adaptive management system are the current risk situation caused by the existing risk factors, the dynamics of risk factors development and the strategy of risk management of economic activity adopted by the enterprise, which defines the targets, priorities and prerequisites for making adaptive management decisions at the enterprise in the face of risk. The accumulation of information about the object of management within this model allows developing optimal management decisions, accumulating information about adaptive decisions in the Bank of precedents of management decisions and using them as a template for making management decisions in similar (typical) situations. It is substantiated that an important feature of the development of the system of adaptive management of economic risks at enterprise is the presence of a certain direction of transformation - the vector of development of the adaptive management system. A vector model of adaptive transformation of the risk management system at enterprise has been proposed, which contributes to a comprehensive understanding of the process of development of the system of adaptive risk management of economic activity of enterprise. Building a model of risk management at enterprise on the basis of precedents, taking into account the vector nature of its development, will contribute to a holistic understanding of the patterns of formation and transformation of the system of adaptive risk management of economic activity at enterprise. The study substantiates the feasibility of using an adaptive approach in the system of enterprise economic risk management, which is considered as a flexible open system capable of self-learning and progressive development. The use of precedents for making adaptive management decisions increases the system's ability to self-develop and more effectively adapt to the changing conditions of the external and internal environment of the enterprise.

The aim of the article is to study the dynamics of innovations development, to identify the main problems of innovative activities development and to advance proposals for the incentive instruments formation. The main method of research is the systemic and structural approach, which makes it possible to organize the search for solving problems most effectively. Methods of comparative, functional analysis and classification are also used. The theoretical basis of the article is the conceptual provisions and scientific principles developed by domestic and foreign scientists on the innovative development of industrial enterprises, tools for their implementation. However, the problems associated with the development and implementation of an effective mechanism for applying the innovative development of industrial enterprises in the context of the need to intensify the inclusiveness of innovative processes remain unfinished. The importance and significance of these questions determined the choice of the topic of the article, setting of the purpose and objectives of the study. The article analyzes the status and dynamics of innovative activities of domestic enterprises. The main trends and problems of the enterprises’ innovative development in modern conditions of limited financing and reducing the foreign investment resources are revealed. The level of using various types of innovations by industrial enterprises is investigated and the peculiarities of cost sharing for innovative activities are determined. The condition analysis of innovative activities of Ukraine’s industrial enterprises is carried out, namely the ratio of innovative products sold, the ratio of enterprises engaged in innovative activities, the number of new technological processes introduction and the production development of new types of products by industrial enterprises, funding sources of innovative activities. The structural analysis of various instruments efficiency of innovations financing in the domestic market is carried out. Ukraine’s innovation infrastructure should be provided with adequate resources in the context of a modern international methodology to support innovative business, which will help to minimize and close this gap. The available resources and potential should be focused on supporting research, which is one of the foundations of innovation potential, and creating an effective infrastructure that will help to transform research results into a product suitable for commercialization. Programs should be introduced to support academic payouts, start-ups, or other means of commercial use of innovative investments. The exposure-response relationships of innovative development stagnation are revealed and the ways of optimization and elimination of imbalance are provided. The recommendations for improving the innovative activities of industrial enterprises are developed.

Introduction. Within the framework of the project approach, business projects are becoming the predominant form of organizing and managing the innovation activities of companies in the modern business environment. Business project management is a strategic priority for the implementation of innovative activities of a trade enterprise, that allows to ensure its sustainable competitive advantage in an unstable, dynamic and unfavorable environment. Business projects allow focusing on specific measures of innovative development in the field of trade. The purpose of the paper is to study the main aspects of business project management in the innovative activities of trade enterprises, that involves research current trend of innovative activity of trade enterprises, features and opportunities of the project-oriented approach. Results. The project-oriented management approach allows to combine all spheres of innovation activity into a single innovation strategy, harmonizing time and resources requirements and limitations, for the innovative development of a trade enterprise focusing on adaptation challenges. That’s why it is advisable to manage the innovation activities of trade enterprises in modern conditions in the form of managing a set of mutually agreed projects using innovative project management tools. At the same time, the introduction, implementation, and closure of projects are continuous processes, the projects themselves are carried out sequentially and/or in parallel, but necessarily systematically. This approach implies, on the one hand, a single coordination system within the overall innovation strategy, and, on the other hand, the autonomy of individual innovation projects in terms of resources provision, operational management, and balancing the interests of participants. Thus, the strategic management of the innovation activities of a trade enterprise is integrated with the operational and financial management of individual projects and their risk management. Conclusion. Modern trade enterprises are characterized by the management of innovation activities in the form of a system of business projects, that is organized and has a cyclical development. In view of this, the management of project-oriented innovation activities is the key to the innovative development of trade enterprises.

Economic Capital for Market Risk

Along with the rapid development of the tourism industry in Indonesia, the role of tourism risk management is becoming increasingly crucial. However, research on tourism risk management in general and tourism operational risk management in Indonesia has not been carried out much. The purpose of the study, which is also a novelty of this study, is to confirm the importance of tourism Operational Risk Management on the resilience of tourism destinations mediated by tourist satisfaction and tourist loyalty, particularly on several research objects and Indonesian tourism in general. In this article, the researcher presents a five series of studies conducted by researchers that focus on the influence of tourism operational risk management on satisfaction and loyalty. The research method used in general is the explanatory sequential design of mixed methods research. The five series of studies used in this article involve various research objects spread across several research locations to explore findings that can strengthen the validity and reliability of findings on one object in a wider area. Research samples come from domestic and foreign tourists and involve business owners, local communities, and relevant stakeholders who have met the criteria set by the researcher. These samples were generally taken using multi-stage sampling techniques. The data collection technique uses the Concurrent Triangulation Strategy regarding information convergence. The findings of five studies conducted found a positive influence of operational risk management performance on tourist satisfaction and loyalty. Value perceived by tourists represented by tourist satisfaction increases when tourist destination managers manage operational risk well. Normatively and based on the findings of previous studies, tourism resilience is built on the basis of tourist satisfaction and loyalty. Thus, strengthening operational risk management has the potential to increase Indonesian tourism's resilience.

While not ignoring risk, agricultural cooperatives tend to accommodate risk through the holding of internal capital reserves rather than engage in active risk management. A lack of information regarding the risk, returns, and the effect on cooperative financial performance of both traditional and innovative risk management strategies is likely a constraint to the adoption of active risk management by cooperatives. In this research, we examine the influence of alternative risk management strategies on cooperative financial performance, namely the return on assets (ROA) of grain merchandising cooperatives of various sizes. Strategies include traditional exchange traded futures and options strategies, an over-the-counter revenue swap, throughput insurance, and combinations of price and throughput strategies. Each of these strategies, for small, medium, and large size firms, are evaluated using a range of procedures including techniques which rely on mean-variance efficiency as well as evaluation procedures which help determine the ability of a strategy to mitigate downside risk. The results of the simulation exercise provide considerable support for the routine buying of at-the-money put options in setting a commodity floor price. The results also support the use, and perhaps the development, of insurance on cooperative throughput if the insurance product is used in conjunction with a price risk management strategy, in essence providing a hedge against downfalls in revenue. Over-the-counter revenue swaps, while intuitively appealing, did not perform well on average relative to more traditional exchange traded products. This result is especially important given the added counter party risk associated with such contracts. However, in some cases, the revenue swap, as well routine hedging with futures, performed better under a Value-at-Risk evaluation criteria than with a mean-variance criteria. Hence, it is important for cooperative managers to consider these results in the context of the risk management goals.

The article analyzes the innovative development of domestic enterprises over the last five years. Based on statistical data, materials of specialized institutes and expert assessments, the dynamics of innovation activity of Russian industrial enterprises under the conditions of con-straints and risks has been studied. A selective sectoral analysis was carried out and it was noted that at present there is a progressive dynamic of the share of innovation-active enterprises. Among other industries the sectors of machine-building, chemistry, metallurgy, pharmaceuticals and IT-industry stand out. It is noted that these results in the field of innovative development have been achieved to a greater extent due to the existing external conditions, government support measures and institutional mechanisms to stimulate R&D. However, this level is not sufficient to ensure technological independence and the desired level of competitiveness in the world.

This paper analyzes whether the Inter-American Development Bank (IDB, or Bank) has fully and effectively implemented the IDB-9 requirements related to risk and financial management. IDB-9 included four requirements in this area: (i) adopt a rule-based Income Management Model (IMM); (ii) implement the recently introduced risk-based Capital Adequacy Policy; (iii) execute a set of agreed actions to enhance the short-term sustainability of the Fund for Special Operations (FSO); and (iv) continue strengthening the Banks Risk Management Framework. The Bank has fully implemented the IDB-9 financial and risk management actions. The highly detailed and prescriptive nature of the requirements aided implementation. In terms of effectiveness, the IMM imposes financial discipline and enhances financial selfsustainability by linking Bank expenses directly to income through loan charges. The CAP supports prudent risk management and the Banks AAA rating. The actions taken for the FSO will not be sufficient to ensure the Funds sustainability until 2020, as mandated in IDB-9, and Management is preparing to propose additional measures for the Board¿s approval. A few issues with the IMM and CAP merit further review going forward. First, the IMM is very strict, with a high administrative expense coverage rule and its inclusion of nonoperational expenses. Second, it is not clear that the reserve ratios for sovereignguaranteed (SG) and non-sovereign-guaranteed (NSG) exposure adequately reflect their relative levels of risk or lead to the most effective leveraging of scarce Bank capital. Third, the Bank¿s unused borrowing capacity rule¿though perhaps reassuring to potential investors¿is outdated and is not relevant to the maintenance of the Bank¿s AAA rating, while a criterion that rating agencies do consider relevant¿country portfolio concentration¿is not factored into the Bank¿s rules. Finally, the IDB-9 architecture is inward-looking and does not promote a focus on the Bank¿s financial competitiveness. In light of these findings, OVE suggests that the Bank (i) consider introducing greater flexibility in the IMM by setting an administrative coverage band and perhaps excluding certain nonoperational expenses; (ii) review the capital accumulation rule and the reserve ratios for SG and NSG exposures; (iii) update the Bank¿s financial rules by phasing out the borrowing authority limit; and (iv) use the financial and risk management architecture as input to strategic decision-making on the projected size of the Bank, the blend of SG and NSG lending, expected countercyclical support, the role of the FSO, and the Bank¿s approach to future capitalization.

This chapter provides information on why uncertainty is critically important for risk managers to understand. Though a legitimate focal point for most risk analysis communities of practice, it remains somewhat subtle in its role in phytosanitary risk management. There is an opportunity for significant improvement and that opportunity with a clear understanding of the nature and nuances of the language of uncertainty. This chapter has six primary purposes: (i) it distinguishes between the two levels of uncertainty; (ii) it distinguishes between the two sources of uncertainty and explains why it may be helpful to do so; (iii) it examines quantity uncertainty, the most common source of uncertainty encountered in pest risk analysis in some detail; (iv) it introduces seven causes of quantity uncertainty; (v) it explores the uncertainty encountered in a pest risk analysis or assessment in a general way; (vi) it offers a strategy for being intentional about the instrumental uncertainty encountered in a risk management activity.

The article examines the experience of Germany in the field of creating and developing an innovation strategy. The issues of the historical path of technological development are touched. The issues of the current situation are studied, the trends in the development of the innovation strategy of Germany are reflected. Particular attention is paid to economic indicators that characterize the innovations development. The country’s place in international and European rankings is indicated. The strengths and weaknesses of approaches to innovation are noted. The main regulatory documents describing the key areas of influence and mechanisms for stimulating the innovative economy are indicated. The departments and societies responsible for the policy in the field of innovative development are identified. The paper notes the key targets for assessing the effectiveness of the measures taken in the country. The successful experience of Germany in the field of interaction between industrial enterprises and higher educational institutions is studied, examples of successful acceleration of the most important sectors of the economy are given. Conclusions about the state of the country’s innovation strategy are formulated.

The article is devoted to the problems of financial and economic activities management of metallurgical enterprises on the basis of risk management, taking into account the division of their activities into operating, investment and financial. The essence of the risk concept in the situation of alternative behavior of the business entity is considered. The development of the economic category "Aggregate Risk" is analyzed and this concept is clarified on the basis of the alternative approach in the multi-probable situation of the final result. The indicators of determining the total risk from financial and economic activities, which were proposed by O.S. Stoyanova, have been investigated and the possibility of their application in the economy of Ukraine. The general approach to complex risk management in activity of the metallurgical enterprise has been defined. It is proposed to combine operating and investment activities and consider their combination as a single economic activity. An economic-mathematical model of optimization of the aggregate risk of the business entity was built on the basis of finding a compromise between profit maximization and minimization of aggregate risk. Analytical dependences were constructed between different parameters of functioning of the business entity, which together with the existing functional dependencies created the equations and inequalities of the obtained economic-mathematical model. It is proved that the management of the total risk of economic and financial activities at metallurgical enterprise is more effective risk management tool than the individual risks management. The application of the approach to aggregate risk management in strategic management ensures the complexity and systemic nature of risk management of industrial enterprises. The proposed conceptual approaches to the management of aggregate risk of financial and economic activities are the basis for the formation of the development strategy of the metallurgical industry. Approbation of the research results was carried out in the conditions of PJSC «Interpipe NTRP» to determine the main parameters of the risk management strategy. The effectiveness of the developed risk management strategy of the business entity is determined on the basis of the difference between the optimized and actual values of the main indicators of its financial and economic activity. The effectiveness of the implementation of the developed strategy is to reduce the overall level of risk of the enterprise by 1.71 and increase the return on capital of the enterprise by 7.65%.

The article focuses on the introduction of a risk-oriented approach to labor protection at the enterprises of the grain processing industry. Such an approach is imperative in modern conditions in accordance with the Concept of reforming the system of labor protection management. This will involve the introduction of the proactive principle of “preventive actions” (prevention of hazardous events and situations) instead of the existing reactive principle of “corrective actions” (response to hazardous events and situations). A risk-oriented approach to occupational safety and health is the basis for the formation of a new national system for prevention of the operational risks. In the grain process enterprises, which have agreed their policy on labor protection with international standards, there has been an increase and improvement of the responsibility and competency of the ordinary employees and managers in the safety field, the risk of on-the-job injury has decreased. Improvement of the system of labor protection and risk management at enterprises should be carried out according to State Standard (DSTU) ISO 31000:2018 “Risk Management. Guidelines (ISO 31000:2018, IDT))”. The purpose of the standard is to reduce operational risks to an acceptable level. The main stages of the risk management process are presented. Identification of hazards, risk assessment, definition of security measures is a constituent and integral part of such a system. This is necessary to identify and understand the dangers that may arise in the course of an enterprise's activity, to assess the risk arising from a particular hazard, and to take measures to reduce the probability of occurrence of hazards. At the enterprises of the grain process industry, the identification of hazards consists in the definition of all objects, situations or actions (or their combination) that are inherent in an enterprise's activities and present a potential threat to the health and life of workers. At the same time, the different types of works and situations are considered in order to identify the dangers that are constantly present in normal working conditions, as well as the hazards, the impact of which is possible in case of deviation from normal working conditions and emergencies. Examples of possible hazardous factors at such enterprises are given. The adequacy of the existing security measures, the need for heir improvement or the introduction of other security measures are determined based on the results of the risk assessment.

The basis of the successful activity of a business entity is an effective internal control system, the effectiveness of which directly depends on the assessment of the risks of the enterprise's activities. Therefore, an important issue of scientific research is the determination of methodological approaches to the optimal interaction of participants in the process of risk management and internal control in order to increase the efficiency of domestic enterprises. In the process of research, general scientific theoretical and empirical methods were used, based on systemic, historical and complex approaches: analogy, comparison – when revealing the issues of the synthesized functioning of risk management and internal control systems; modeling, generalization – when studying the constituent elements of the methodological tools in the enterprise management system. The work proves that in order to increase the efficiency of the enterprise's activities, it is worth introducing an integrated approach to the internal control system, which should be based on the interaction, unification, functional coordination of participants in internal control and risk management, taking into account the industry specifics, scale of activity, regulatory and legal environment, corporate culture. For optimal interaction of all participants in the risk management and internal control process of the company, it is proposed, based on the provisions of the “Three Lines of Defense” model, to introduce into the current practice of the enterprise a mechanism for coordination and partnership interaction of all participants in such a process, with consolidation in the relevant internal regulations. In this regard, a format of the model of the internal standard of risk management of the company has been developed for implementation, which takes into account the specifics of the enterprise's activities, creates a basis for increasing the value of the company, and ensures business efficiency. It is substantiated that the interaction of participants depends on the organizational and functional components of the internal control system. Therefore, in the logic of the integrated approach, an organizational and functional model of internal control has been built at the appropriate levels and taking into account the synthesizing components, which should ensure optimal interaction of participants in the risk management process in the control sphere.