Innovation management. Methodological foundations of risk management (the most important)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Innovation management. Methodological foundations of risk management (the most important)

Lecture notes, cheat sheets

Table of contents (expand)

23. METHODOLOGICAL BASICS OF RISK MANAGEMENT

Managing risks when introducing and promoting innovations to the market is very difficult, given the high share of uncertainty.

In most sectors of the economy, the same methods and mechanisms for reducing risks are largely used, therefore, a variety of ways to ensure the economic security of innovation when implementing the concept of acceptable innovation risk by reducing it to an acceptable level and managing the level of innovation risk can be combined into several of the following main groups: avoidance ( risk avoidance), risk compensation (reservation), insurance, hedging, risk localization, risk distribution (diversification).

Innovative activity has a feature - a significant remoteness of obtaining the results of implementation, which makes it difficult to assess risks.

The risk management process includes the following:

1) risk management planning;

2) risk identification;

3) qualitative risk assessment;

4) quantitative assessment;

5) risk response planning;

6) monitoring and control of risks.

When exposed to a variety of external and internal risk factors, different ways to reduce them are used.

Risk management methods:

1) methods of risk avoidance used in economic activity: rejection of non-

reliable partners, from risky projects, risk insurance, search for guarantors, dismissal of incompetent employees;

2) risk localization methods are used infrequently, only when it is possible to fairly clearly identify risks and the sources of their occurrence, these include: the creation of venture enterprises (subsidiaries); the creation of special structural divisions (with a separate balance sheet); concluding agreements on joint activities to implement risky projects;

3) risk diversification methods - this is the distribution of the total risk into: responsibility between the participants; diversification of sales and supplies; diversification of investments; distribution of risk in time (by stages of work);

4) risk compensation methods are closely related to the creation of mechanisms to prevent the occurrence of danger. These include:

a) strategic planning of activities as a method of risk compensation;

b) forecasting the external situation; monitoring the socio-economic and regulatory environment; creation of a system of reserves;

c) development of a financial strategy to manage their assets and liabilities; staff training and instruction;

5) method of insurance - formation of a special fund of funds;

6) hedging - reducing the risk of concluding futures contracts (futures and options).

Authors: Evgrafova I.Yu., Krasnikova E.O.

<< Back: Essence, classification and types of risks

>> Forward: External risk factors

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ Municipal law. Crib

▪ Organizational behavior. Crib

▪ Economic statistics. Crib

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

tissue that kills viruses 05.02.2021

American scientists design tissue capable of destroying viruses. The study aims to create safer medical clothing for healthcare workers.

The project is headed by Patricia Dolez. Her goal is to develop a textile treatment that kills viruses, including COVID-19, on contact: "We are developing something that will make the fabric self-disinfecting."

Building on existing technology, scientists are trying to adapt a chemical used to disinfect swimming pools to treat textiles. This chemical is sensitive to light, so Dolez and colleagues want to make it a light-resistant compound that can be applied to fabric. At the same time, so that protective clothing does not lose its properties after washing and can be reused.

A new chemical compound will break the chain of cross-contamination: "Imagine a person not infecting anyone, even himself, by touching his mask. Bacteria or a virus will die on contact with the tissue and can no longer cause harm." This means there is minimal chance of spread and infection between healthcare workers themselves and their patients.

The Canadian company Logistik Unicorp, which supplies workwear and works with military uniforms, is interested in the promising development of scientists and said it would develop partnerships to bring the finished product to the stage of production and commercialization.

Other interesting news:

▪ New type of magnet discovered

▪ Asus ROG gaming laptops with 300Hz refresh rate

▪ Optical gyroscope using rotating light

▪ The universe is threatened by dark energy

▪ Photosynthesis for energy production

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Consumer Electronics. Selection of articles

▪ article When I was gullible and young. Popular expression

▪ article On which side in World War II, besides the Third Reich, did Hitler fight? Detailed answer

▪ article Head of the subsidiary agriculture department. Job description

▪ article Installation for exposure of photoresist at home. Encyclopedia of radio electronics and electrical engineering

▪ article Switchgears and substations with voltages above 1 kV. Installation of power transformers and reactors. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews