EFFICIENCY ASSESSMENT OF IMPLEMENTATION OF THE MECHANISM OF INNOVATIVE RISK MANAGEMENT OF THE FAT AND OIL INDUSTRY IN UKRAINE

Object of research: risk management processes of enterprises of the oil and fat industry in Ukraine. Investigated problem: to assess the efficiency of the implementation of the mechanism of innovative risk management for enterprises of the oil and fat industry in Ukraine Main scientific results: the paper proposes a scientific and methodological approach to quantifying the effectiveness of the implementation of the mechanism of innovative risk management (MIRM) of enterprises of the oil and fat industry in Ukraine, based on comparing the net present value before and after the MIRM implementation and consists of a number of successive interrelated stages, which include: comparative analysis and integrated assessment of unsystematic (financial, production, investment and other types) risks before and after the MIRM implementation at the enterprise; expert assessment of systematic risks that form the environment of the enterprise and can’t be controlled; determination of the total risk value as an arithmetic weighted average non-systematic and systematic component for each type of risk; determination of discount rates taking into account risk before and after the MIRM implementation at the enterprise using the CAPM model (capital assets pricing model) for calculating and comparing the net present value before and after the MIRM implementation at the enterprise (NPV and NPV', respectively). Efficiency assessment of the implementation of the mechanism of innovative risk management (MIRM) was carried out on the example of eleven processing enterprises of the fat and oil industry in Ukraine. The scope of practical use of research results: the risk management system of processing enterprises of the fat and oil industry in Ukraine, which should be the object of constant monitoring of the feasibility of implementation and assessment of the effectiveness of MIRM functioning by management and top management. Innovative technological product: a scientific and methodological approach to quantifying the effectiveness of the implementation of the mechanism of innovative risk management for enterprises of the oil and fat industry in Ukraine, based on comparing the net present value before and after the MIRM implementation (NPV and NPV’, respectively) using the CAPM model (capital assets pricing model) to determine the discount rates taking into account the risk before and after the MIRM implementation (d and d', respectively), which makes it possible to determine the expected amount of reduction in losses at the processing enterprises of the oil and fat industry of Ukraine from the implementation of a set of risk management measures and make informed management decisions on the appropriateness of their application. Scope of application of the innovative technological product: processing enterprises of the oil and fat industry in Ukraine

Reflections on practice-centred curricula in teaching entrepreneurship in Malaysia

This paper discusses the challenges of entrepreneurship education in a regional Malaysian context and provides the design details of entrepreneurship modules providing a practical experience. It is argued that an active, experience-centred module delivery helps to revitalise student curiosity in entrepreneurial activities. The paper utilises the phenomenological approach to explore the contemporary challenges of entrepreneurship education and to gain a deeper insight into its contemporary complexity. The material for the phenomenological analysis is obtained by means of focus groups which are contrasted with the students’ written reflections and staff observations on teaching and learning activities in entrepreneurship modules. The findings indicate that two months timescale for studying entrepreneurship is too short because of competing priorities within the programme of study and an eclectic essence of entrepreneurship. It was also found that students believe that being supported by tutors having practical experience is motivating and reassures them about further learning. The concerns about the applicability of Western concepts of entrepreneurship education to the Malaysian context were not corroborated. It has been argued that practice-centred learning opportunities are often associated with off-campus education and take place in the ‘real world’. The suggested design for standalone entrepreneurship modules evidently ensures a rich experience for students and provides an effective springboard for developing entrepreneurial aspirations

Managing knowledge management tools: a systematic classification and comparison

Knowledge management (KM) is playing an important role in commercial and academic activities, and people are usually armed with effective KM tools for implementation. On one hand, KM tools can facilitate KM activities; however, on the other hand, with the “explosion” of KM tools development, people may feel confused about which to choose or which is more suitable. As a result, KM tools should be managed, so this paper aims at making a systematic classification and comparison research and proposes a KM tools selection strategy based on a point of view on knowledge lifecycle

Оцінка інвестиційної привабливості промислових підприємств

The article is devoted to methodological issues of assessing the investment attractiveness of industrial enterprises, based on the nature of investments and the goals of their initiators. Various methods for assessing the economic efficiency of investments in newly created, existing and reconstructed industrial enterprises are examined, and the conditions for their application are determined. The necessity of calculating the economic efficiency of direct investment as part of changing the entire production and economic system of the investor is justified. A structural and logical scheme of interaction between the potential investor and the investment object directly for the implementation of investment projects was proposed, taking into account the number of investments, type of investor and term of the investment. The authors also proposed a methodology that can be used by an investor to plan for increasing the investment attractiveness of an enterprise and a formula for calculating the coefficient of investment attractiveness of an enterprise.Стаття присвячена методологічним питанням оцінки інвестиційної привабливості промислових підприємств, виходячи з характеру інвестицій та цілей їх ініціаторів. Розглядаються різні методи оцінки економічної ефективності інвестицій у новостворені, існуючі та реконструйовані промислові підприємства та визначаються умови їх застосування. Обґрунтовано необхідність розрахунку економічної ефективності прямих інвестицій як частини зміни всієї виробничої та економічної системи інвестора. Запропонована структурно-логічна схема взаємодії між потенційним інвестором та об'єктом інвестування безпосередньо для реалізації інвестиційних проектів з урахуванням кількості інвестицій, типу інвестора та строку інвестування. Автори також запропонували методологію, за допомогою якої інвестор може планувати підвищення інвестиційної привабливості підприємства, та формулу для розрахунку коефіцієнта інвестиційної привабливості підприємства