The main scientific result of the dissertation research is based on the creation of the theoretical foundations to identifying the impact of the economic risk tolerance of industrial enterprises on their innovative development on the basis of the analysis of economic risks and sustainability and in the context of innovative business development management.
The study reveals the essence and evolution of the concepts of “economic risk”, “economic risk tolerance” and “financial stability” and offers the author’s own definition. The paradigmatic foundations of innovative development of industrial enterprises are defined. The imperative as a categorical and unconditional requirement carries the meaning of obligation in the processes of “future management” or “future creation”. The imperative is based on paradigmatic foundations, partly arising from them. In our opinion, it is necessary to accept sustainable development and innovative development as paradigmatic foundations of development. It is with them that the development programs of an individual enterprise, industry, region and the country as a whole are correlated.
The systematization of the factors of economic risk tolerance of an industrial enterprise in the management of its innovative development has been improved on the basis of a hierarchy of interdependent concepts of economic risk, which is built on a systemic and event-based approach, which contributes to the clarification of the choice of innovative activity directions of the enterprise.
A procedure for assessing economic risks and sustainability in the context of managing the innovative development of the enterprise is proposed. For this, the dissertation study developed a set of applied models for managing the innovative development of an industrial enterprise based on indicators of economic sustainability, which, unlike the existing ones, make it possible to diagnose development opportunities, evaluate the effectiveness of investments in innovation, taking into account risk factors in terms of criteria for choosing a managerial decision, which will allow forecasting the change in the economic situation at the enterprise during the implementation of innovative strategies under the conditions of an unstable environment.
A program of innovative development of an industrial enterprise has been formed. Dynamic modeling of the complex of private financial balances of the enterprise is used to form the investment program. Management of the innovative development of the enterprise includes finding a compromise between the level of its static and dynamic stability. From the point of view of resources, sustainability means the qualitative and quantitative aspects of their formation, placement and use. Static stability, which includes a stable financial position, involves the rejection of high-risk projects, associated with passive extended reproduction, preservation of the former structure of formation and use of resources. Dynamic stability is associated with an intensive type of development and implementation of innovative projects, the enterprise must be in a state of equilibrium at every step of project implementation. Therefore, the investment program should ensure a complex of private financial balances. Financial balance means stable financial condition; acceptable values of profitability and risk indicators. To solve the problem, first, a dynamic approach is used, since the innovation process consists of successively unfolding stages, the formation of an investment portfolio involves the distribution of resources among alternative options; the level of integral risk is determined by decisions made at previous moments of time, secondly, a value approach to the assessment of development, which takes into account alternative opportunities for using capital with a similar level of risk, possible losses and lost profits of the enterprise.
Management models for the innovative development of an industrial enterprise have been built. A management system for the innovative development of an industrial enterprise has been developed, which includes models of strategic, tactical and operational management: choosing the type of innovative strategy, specific innovative projects, the forms and sequence of their implementation, taking into account resource potential, indicators of sustainability and economic added value. The system uses a combined management of deviations and disturbance.
An algorithm for selecting innovative projects for implementation has been developed. For such a choice, the approach of logical-probabilistic modeling of the level of risk tolerance of the enterprise based on its infodynamic characteristics is used. Forecasting the level of risk tolerance, a matrix model was created, based on the techniques of rank statistics, which is logistic: the enterprise corresponds to a certain position in the industry and regional network of resource flows
