SCIENTIFIC APPROACHES TO MANAGE RISKS IN INNOVATIONAL PROJECTS OF TRADE ENTERPRISES
Journal Title: Ринкова економіка: сучасна теорія і практика управління - Year 2016, Vol 15, Issue 2
Abstract
The article deals with questions of scientific approaches to risk management in in¬novative projects of trade enterprises. The consistency of the “risk-potential” concept with the main provisions of the Errou theory of risk aversion is explored. The comparative analysis of the concept of acceptable risk and the concept “risk-potential” is offered. In the proposed study, these properties are considered for all Y values, including for small values (or equivalents, for the commencement of the use of innovations) where risk preference exists. The essence of Arrow’s theory is a positive theory, that is, it does not give the recipes of rational behavior in a risk, but aims to give a description of the basic general patterns that manifest themselves in the behavior of individuals at risk. The significance of the Errow theory lies not only in the fact that it aims to protect the entrepreneur from unreason¬ably high levels of risk, but, as shown in this paper, it helps the entrepreneur to assume the necessary and possible risks. There is an optimal level of risk. The level of risk should not be reduced or increased, but kept at the optimal level. This also corresponds to the Arrow theory in the sense that it is necessary to evade unnecessarily high levels of risk. The optimal level of risk is determined by the ratio of the cost of developing anti-risk measures and increasing the target function (utility function). The analysis of existing risk management methods as well as new opportunities in relation to risk management in the concept of “risk-potential” allows us to develop a generalized classification of methods for managing innovation risks. Existing methodological provisions of business planning and modeling processes of uncertainty of in¬novative processes allow developing and practically realizing the method of optimization of an innovative project on the basis of the use of the concept “risk-potential”.
Authors and Affiliations
Ye. I. Maslennikov, O. Yu. Chuiko
Keywords
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