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The Theoretical Fundamentals And Methodical Approaches To Economic Safety Assessment Of Innovations To Foreign Markets

Author

Listed:
  • Svetlana Labunska

    (Kharkiv National University of Economics)

  • Oleksandr Dorokhov

    (Kharkiv National University of Economics)

  • Olena Prokopishyna

    (Kharkiv National University of Economics)

Abstract

It is widely perceived that expanding to foreign markets creates additional opportunities to enterprise. But in this strategic decision-making process it is crucial to be conscious of additional unique threats that are inherent in foreign market entry. Inappropriate innovation can significantly deteriorate enterprise safety and seriously affect its wellbeing; the absence of innovation activity also can threaten the enterprise safety. The present work is aimed at examining the interconnectivity of innovations and economic safety of an enterprise activity on foreign, primary new markets and on this ground developing the methods of assessing the economic safety of innovation activity. It is proposed to distinguish two components of an enterprise economic safety: the static component (economic safety of enterprise state) and the dynamic component (economic safety of enterprise activity). Following this differentiation special assessment methods are proposed. It is stated that while making decision on promoting to external markets it is reasonable to estimate the level of economic safety of enterprise initial state, of innovation adoption and of enterprise final state. As conclusion a set of specific requirements to management to ensure the target level of economic safety of promoting new product to a foreign market is developed and proposed in the paper.

Suggested Citation

  • Svetlana Labunska & Oleksandr Dorokhov & Olena Prokopishyna, 2013. "The Theoretical Fundamentals And Methodical Approaches To Economic Safety Assessment Of Innovations To Foreign Markets," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 22(1), pages 221-236, june.
    • Handle: RePEc:avo:emipdu:v:22:y:2013:i:1:p:221-236
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    References listed on IDEAS

    as
    1. Yingchun Guo, 2012. "Research on Innovation Risk Management based on Bayesian Risk Decision-Making," International Journal of Business Administration, International Journal of Business Administration, Sciedu Press, vol. 3(1), pages 21-30, January.
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    More about this item

    Keywords

    economic safety of enterprise; innovation; foreign market;
    All these keywords.

    JEL classification:

    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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