Innovation management. External risk factors (most important)

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Innovation management. External risk factors (most important)

Lecture notes, cheat sheets

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24. EXTERNAL RISK FACTORS

Innovation risk is the loss of part of one's resources or the planned profit from the implementation of an innovative project, the value of a portfolio of financial assets (of an innovative company as a whole) or the appearance of additional costs, as well as the opposite - the possibility of obtaining significant income compared to the planned one as a result of implementing innovative activities in conditions uncertainty.

There are two categories of risk factors, external and internal. External (unmanaged) risks are not directly related to the activities of the enterprise, their level is influenced by a large number of factors - political, economic, environmental, social and others.

Economic risk is associated with uncertainty factors that affect economic activity in the state and activities in the implementation of an innovative project. Economic risk is affected by the following uncertainties:

1) the state of the economy;

2) the economic, budgetary, financial, investment, innovation and tax policy pursued by the state;

3) market and investment conditions;

4) cyclical development of the economy;

5) state regulation of the economy;

6) possible failure by the state to fulfill its obligations (expropriation of private capital, various types of defaults, termination of contracts and various financial shocks).

Political risks are directly related to uncertainty factors: changes in the political situation and in the political course pursued by the state; political pressure; administrative restriction of innovation activity; foreign policy pressure on the state; freedom of speech; separatism; worsening relations between states.

Social risks are associated with uncertainty factors: social tension; strikes; regional conflicts; failure to implement social programs. The limiting case of social risk is personal risk.

Environmental risks are associated with such factors of uncertainty: environmental pollution, radiation situation, environmental disasters, environmental programs and environmental movements such as Green peace, etc.

Environmental risks are divided into technogenic, natural and climatic, social and household risks.

Legislative and legal risks are associated with such factors of uncertainty: changes in the current legislation for a given period of time; inconsistency, incompleteness of the legal framework; incompetence in the adoption of legislative acts.

The innovation risk of a company that implements an innovation project will, in general, be manageable.

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

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