Cognitive analytical tools for cost management of innovation activity

Promotion of innovations on the market is hampered in Ukraine by the lack of meth- odological approaches for analyzing the e ciency of innovative projects. e lack of appropriate methodology leads companies to refuse to innovate because of the un- certainty of nal economic outcomes. e introduction of project based methods for innovation activity management allows, on the one hand, to reconcile strategic and operational objectives within the innovation process, innovation activity and general nancial and economic activity of the enterprise, and on the other hand, to implement cognitive approaches to organization of company’s innovation management. e research argues the possibilities of applying the canonical correlation method for structuring the causal links between the determined components of a company inno- vative capability, such as innovation potential, innovative business opportunities and system margin. As these components may be further assessed by quantitative indices, the method of regression analysis is also used to develop analytical tools for innovation management, which allow to reveal the interrelated impact of expenses on the results of innovation activity. e paper analyzes changes in a company innovative capability that can be provoked by increased material, depreciation, labor and information costs and discusses directions of interrelated changes. Practical testing of submitted propos- als is realized based on the Ukrainian companies’ statements for 2012–2017

THE THEORETICAL FUNDAMENTALS AND METHODICAL APPROACHES TO ECONOMIC SAFETY ASSESSMENT OF INNOVATIONS TO FOREIGN MARKETS

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

3R philosophy for sustaining recreational attractiveness and development of hotel business in Ukraine

The paper highlights the problem of waste accumulation and ways of its solution. It was established that landfills occupy 7% of the total territory of Ukraine and their area is larger than the area of natural reserve funds. Based on the dynamics of garbage accumulation the paper forecasts increase solid household waste in geometric progression. The article shares experience in field of utilization and waste management and grounds the necessity of separating rubbish into fractions and processing each component that is sold separately on the market. It is proposed to use a systematic approach to waste management in hotel business. The paper justifies the conclusion that only the proliferation of 3R philosophy – Reuse-Reduce-Recycle – in behaviour of tourists and the local population in everyday life will preserve the recreational attractiveness of Ukraine and provide the basis for the development of hotel business

Accounting and analytical base for management of logistic flows in tourism business

The paper grounds that the existing potential of the tourism industry of Ukraine can be realized through the introduction of efficient logistic approaches for the development of tourism and recreation and management of tourist enterprises. Based on modern knowledge of the theory and practice of tourism management, a logistic strategy in tourism business serves for the creation of tourism product which is highly competitive in the global market due to implementation efficient management decision upon each component of the logistics system of the company. The paper reveals the essence and major functions of accounting and analytical subsystem of logistic management of tourism companies that enables to shorten the duration of the operating cycle, improve the quality and expand the range of travel services, and increase the flexibility of the travel service. The paper concludes that efficient accounting and analytical subsystem of logistic management gives travel companies wide opportunities to gain competitive advantages on global travel market

Viešojo valdymo atskaitomybės pažintiniai instrumentai kuriant nacionalinę inovacijų sistemą

The main aim of the research was to develop cognitive instruments that allow justification of decisions in national innovation policy. In the theoretical part of research fundamentals of national innovation policies of EU-members and Ukraine were compared to reveal factors that can accelerate innovation development. In the empirical part of research the analysis of innovation capability of Ukrainian enterprises was conducted based on financial, statistic and management reports and it confirmed that companies systematically conducted innovation activities, reached higher levels of innovation potential, innovative business opportunities and margin of economic security and, consequently, have more innovative capacities for innovation of all types. The formation of cognitive analytical base allowed the application of scenario modelling at the level of public management of innovation activity. Cognitive modelling approach was justified firstly by increased volatility in economic conditions of modern realities of crisis in the national economy, and secondly high-cost and risky innovations, fast diffusion of information resources during the introduction of innovation processes, and thirdly, the presence of the mutual influence of objects of national innovation system.Pagrindinis šio straipsnio tikslas yra tirti kognityvines priemones, kurios prisidėtų kuriant teisingą sprendimų priėmimą šalies inovacijų politikoje. Teorinėje apžvalgoje yra aptariamos ES šalių narių ir Ukrainos inovacijų politikų gairės ir įgyvendinimo procesai bei priežastys galinčios paskatinti inovacijų plėtrą. Empyrinis tyrimas buvo grįstas Ukrainos pavyzdžiu, čia buvo analizuojamaos Ukrainos įmonių financiniai ir žmogiškieji pajėgumai seikiant inovacijų sklaidos ir taikymo. Įmonių financinių ir statistinių rodiklių bei vadybos schemų analizė parodė, kad įmonės nuolat diegiančios inovatyvius procesus ir naudojančius inovatyvius produktus savo veikloje, pasiekia aukštesnį inovacijos lygį, turi daugiau galimybių plėsti savo veiklą bei yra atsparesnės iškilus financinėms grėsmėms. Šios įmonės dažniau ir lengviau geba iššūkius paversti galimybėmis. Analitinio kognityvinio žinių kūrimas tapo pagrindu scenarijumi grįsto modelio sukūrime ir pritaikyme viešojo sektoriaus inovacijų skatinimui. Kongnityvinio modelio taikymas pasirodė ypač veiksmingas sprendžiant nuolat kintančius financinius klausimus, kurie yra tokie būdingi šiuolaikinei ekonomikai. Šio modelio nauda buvo pastebėta nagrinėjant didelės rizikos inovacijas bei nacionalinės reikšmės inovacijų įgyvendinimą

ognitive Modeling of the Startup Life Cycle

Under conditions of turbulent development of the world market, which takes place based on modern high-tech industries and introduction of IT technologies into all business processes, the problem of managing risky projects becomes extremely urgent. The innovative development of the global socio-economic system is impossible without the spread and intensification of activities of startups. Startup enterprises, despite the short period of their existence, play an important role in the processes of generating new knowledge, creating innovative projects and commercializing innovative ideas. Startups, as business units, constitute a separate subset of innovative enterprises, grouped according to scaling, using breakthrough innovative ideas, specific sources of financing and increased risk. Since the typical features of a successful startup are the rapid expansion of operations and high risks of financial and economic activity, a conditional time point at which both the risks and rates of growth in transaction volumes are simultaneously reduced can be defined as the fluctuation point at which the startup ceases to exist. The results of applying mathematical methods to process statistical information on the dynamics of the market proved that the fluctuation point of the life cycle of startups in Ukraine takes place in the time interval of the first year of financial and economic activities of the enterprise. During this interval, startup enterprises are oriented towards one of two alternatives: scaling operations on the basis of attracting investments and a significant expansion of activities or gradual curtailment of an innovative project in which investors’ financial resources could not be attracted. Both alternatives lead to the transmission of an enterprise from the class of startups to the class of large enterprises or the liquidation of the business. Startup enterprises in Ukraine have a high potential for innovation development and can become a driving force for the social and economic development of the country as a whole. In order to increase the positive effect of startup initiatives for the Ukrainian economy, it is necessary to solve a number of tasks, among which there are the expansion of information and financial support from the state, the formation of a favorable investment climate and infrastructure for the commercialization of innovative projects