IDEAS home Printed from https://ideas.repec.org/a/gam/jrisks/v9y2021i10p173-d644014.html
   My bibliography  Save this article

Managing the Risks of Innovative Activities Focused on the Consumer Market: Competitiveness vs. Corporate Responsibility

Author

Listed:
  • Julia V. Ragulina

    (Compliance and Controlling Department, Peoples’ Friendship University of Russia (RUDN), 6 Miklukho-Maklay St., 117198 Moscow, Russia)

  • Stanislav E. Prokofyev

    (State and Municipal Administration, Financial University under the Government of the Russian Federation, 49 Leningradsky Ave., 125167 Moscow, Russia)

  • Tatyana V. Bratarchuk

    (State and Municipal Administration, Financial University under the Government of the Russian Federation, 49 Leningradsky Ave., 125167 Moscow, Russia)

Abstract

Purpose This paper aims to study the specifics of managing the risks of innovative activities during the implementation of the Sustainable Development Goals (SDGs) in entrepreneurship that is focused on the consumer market in countries with different levels of income. Design/methodology/approach The research is performed with the help of regression analysis (one-factor and multiple simple linear regression). Two samples are created for this: (1) countries with high income and (2) upper middle income and countries with lower middle income, according to the classification of World Bank GNI per capita in current USD (Atlas method). Findings It is determined that priorities of the consumer market (demand) are differentiated among countries with different levels of income. In countries with high income and upper middle income, corporate social responsibility does not determine the quality of life. Only competitiveness is a milestone during the implementation of the SDGs in entrepreneurship activities focused on the consumer market. In countries with lower middle income, neither corporate responsibility nor competitiveness is the decisive factor in managing the risks of innovative activities focused on the consumer market. Originality The originality of this research consists in a new view of competitiveness and corporate responsibility from the positions of their influence on the implementation of the SDGs entrepreneurship focused on the consumer market. Social implications Due to the practical implementation of the offered recommendations for corporate management of improving the practice of managing the risks of innovative activities focused on the consumer market, the Quality of Life Index will grow by 44.95% in countries with high income and upper middle income and by 98.69% in countries with lower middle income.

Suggested Citation

  • Julia V. Ragulina & Stanislav E. Prokofyev & Tatyana V. Bratarchuk, 2021. "Managing the Risks of Innovative Activities Focused on the Consumer Market: Competitiveness vs. Corporate Responsibility," Risks, MDPI, vol. 9(10), pages 1-14, September.
    • Handle: RePEc:gam:jrisks:v:9:y:2021:i:10:p:173-:d:644014
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-9091/9/10/173/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-9091/9/10/173/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Agata Kliber & Barbara Będowska-Sójka & Aleksandra Rutkowska & Katarzyna Świerczyńska, 2021. "Triggers and Obstacles to the Development of the FinTech Sector in Poland," Risks, MDPI, vol. 9(2), pages 1-27, February.
    2. Karsten Bolz & Anne de Bruin, 2019. "Responsible innovation and social innovation: toward an integrative research framework," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 46(6), pages 742-755, February.
    3. Shengkun Xie, 2021. "Improving Explainability of Major Risk Factors in Artificial Neural Networks for Auto Insurance Rate Regulation," Risks, MDPI, vol. 9(7), pages 1-21, July.
    4. Popkova, Elena G. & Alekseev, Alexander N. & Lobova, Svetlana V. & Sergi, Bruno S., 2020. "The Theory of Innovation and Innovative Development. AI Scenarios in Russia," Technology in Society, Elsevier, vol. 63(C).
    5. Horn, Philipp & Grugel, Jean, 2018. "The SDGs in middle-income countries: Setting or serving domestic development agendas? Evidence from Ecuador," World Development, Elsevier, vol. 109(C), pages 73-84.
    6. Madurai Elavarasan, Rajvikram & Pugazhendhi, Rishi & Jamal, Taskin & Dyduch, Joanna & Arif, M.T. & Manoj Kumar, Nallapaneni & Shafiullah, GM & Chopra, Shauhrat S. & Nadarajah, Mithulananthan, 2021. "Envisioning the UN Sustainable Development Goals (SDGs) through the lens of energy sustainability (SDG 7) in the post-COVID-19 world," Applied Energy, Elsevier, vol. 292(C).
    7. Liu Suyu, 2020. "Interactions between industrial development and environmental protection dimensions of Sustainable Development Goals (SDGs): Evidence from 40 countries with different income levels," Environmental & Socio-economic Studies, Sciendo, vol. 8(3), pages 60-67, September.
    8. Guoxin Fu, 2021. "Toward achieving sustainable development goal 3: Determinants, innovations, and reactions from 110 countries with different income levels," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(4), pages 607-623, July.
    9. Viktoriya Valeryevna Manuylenko & Aminat Islamovna Borlakova & Alexander Vladimirovich Milenkov & Olga Borisovna Bigday & Elena Andreevna Drannikova & Tatiana Sergeevna Lisitskaya, 2021. "Development and Validation of a Model for Assessing Potential Strategic Innovation Risk in Banks Based on Data Mining-Monte-Carlo in the “Open Innovation” System," Risks, MDPI, vol. 9(6), pages 1-19, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sergei G. Vagin & Elena I. Kostyukova & Natalia E. Spiridonova & Tatiana M. Vorozheykina, 2022. "Financial Risk Management Based on Corporate Social Responsibility in the Interests of Sustainable Development," Risks, MDPI, vol. 10(2), pages 1-13, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ahmed Ginidi & Sherif M. Ghoneim & Abdallah Elsayed & Ragab El-Sehiemy & Abdullah Shaheen & Attia El-Fergany, 2021. "Gorilla Troops Optimizer for Electrically Based Single and Double-Diode Models of Solar Photovoltaic Systems," Sustainability, MDPI, vol. 13(16), pages 1-28, August.
    2. Pongsapak Chindasombatcharoen & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Sirimon Treepongkaruna, 2022. "Achieving sustainable development goals through board size and innovation," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(4), pages 664-677, August.
    3. Wunvisa Tipasri & Amnart Suksri & Karthikeyan Velmurugan & Tanakorn Wongwuttanasatian, 2022. "Energy Management for an Air Conditioning System Using a Storage Device to Reduce the On-Peak Power Consumption," Energies, MDPI, vol. 15(23), pages 1-19, November.
    4. Muhammad Ibrahim & Rosli Mahmood, 2022. "Proactive Environmental Strategy and Environmental Performance of the Manufacturing SMEs of Karachi City in Pakistan: Role of Green Mindfulness as a DCV," Sustainability, MDPI, vol. 14(19), pages 1-14, September.
    5. Madurai Elavarasan, Rajvikram & Pugazhendhi, Rishi & Irfan, Muhammad & Mihet-Popa, Lucian & Campana, Pietro Elia & Khan, Irfan Ahmad, 2022. "A novel Sustainable Development Goal 7 composite index as the paradigm for energy sustainability assessment: A case study from Europe," Applied Energy, Elsevier, vol. 307(C).
    6. Yunus Zengin & Serkan Naktiyok & Erdoğan Kaygın & Onur Kavak & Ethem Topçuoğlu, 2021. "An Investigation upon Industry 4.0 and Society 5.0 within the Context of Sustainable Development Goals," Sustainability, MDPI, vol. 13(5), pages 1-16, March.
    7. Tom Henfrey & Giuseppe Feola & Gil Penha‐Lopes & Filka Sekulova & Ana Margarida Esteves, 2023. "Rethinking the sustainable development goals: Learning with and from community‐led initiatives," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(1), pages 211-222, February.
    8. Faisal Al-Hudithi & Kamran Ahmed Siddiqui, 2021. "Designing the guidelines for FinTech curriculum," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(1), pages 633-643, September.
    9. Welcome Khulekani Ntuli & Musasa Kabeya & Katleho Moloi, 2024. "Review of Low Voltage Ride-Through Capabilities in Wind Energy Conversion System," Energies, MDPI, vol. 17(21), pages 1-33, October.
    10. Johannes M Waldmüller & Mandy Yap & Krushil Watene, 2022. "Remaking the Sustainable Development Goals: relational Indigenous epistemologies [Assessing national progress and priorities for the Sustainable Development Goals (SDGs): Experience from Australia]," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 41(4), pages 471-485.
    11. Ayyildiz, Ertugrul, 2022. "Fermatean fuzzy step-wise Weight Assessment Ratio Analysis (SWARA) and its application to prioritizing indicators to achieve sustainable development goal-7," Renewable Energy, Elsevier, vol. 193(C), pages 136-148.
    12. Esther Kamau & Gillian MacNaughton, 2019. "The Impact of SDG 3 on Health Priorities in Kenya," Journal of Developing Societies, , vol. 35(4), pages 458-480, December.
    13. Giri, Puspendu & Paul, Somnath & Debnath, Bijoy Krishna, 2024. "A fuzzy Graph Theory and Matrix Approach (fuzzy GTMA) to select the best renewable energy alternative in India," Applied Energy, Elsevier, vol. 358(C).
    14. Indre Siksnelyte-Butkiene, 2021. "Impact of the COVID-19 Pandemic to the Sustainability of the Energy Sector," Sustainability, MDPI, vol. 13(23), pages 1-19, November.
    15. Wei Sun & Junli Li & Wenxi Qu, 2022. "Sustainability evolution and factors based on ecological footprint: A case study of Rizhao, China," Growth and Change, Wiley Blackwell, vol. 53(1), pages 132-150, March.
    16. Padmanathan Kasinathan & Rishi Pugazhendhi & Rajvikram Madurai Elavarasan & Vigna Kumaran Ramachandaramurthy & Vinoth Ramanathan & Senthilkumar Subramanian & Sachin Kumar & Kamalakannan Nandhagopal & , 2022. "Realization of Sustainable Development Goals with Disruptive Technologies by Integrating Industry 5.0, Society 5.0, Smart Cities and Villages," Sustainability, MDPI, vol. 14(22), pages 1-31, November.
    17. Chaturong Napathorn, 2022. "The implementation of green human resource management bundles across firms in pursuit of environmental sustainability goals," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(5), pages 787-803, October.
    18. Elkadeem, Mohamed R. & Younes, Ali & Mazzeo, Domenico & Jurasz, Jakub & Elia Campana, Pietro & Sharshir, Swellam W. & Alaam, Mohamed A., 2022. "Geospatial-assisted multi-criterion analysis of solar and wind power geographical-technical-economic potential assessment," Applied Energy, Elsevier, vol. 322(C).
    19. Hagreaves Kumba & Oludolapo Akanni Olanrewaju, 2024. "“Towards Sustainable Development: Analyzing the Viability and Integration of Renewable Energy Solutions in South Africa”—A Review," Energies, MDPI, vol. 17(6), pages 1-15, March.
    20. Shittu, Ekundayo & Weigelt, Carmen, 2022. "Accessibility in sustainability transitions: U.S. electric utilities’ deployment of solar," Energy Policy, Elsevier, vol. 165(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jrisks:v:9:y:2021:i:10:p:173-:d:644014. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.