The innovative component of the enterprise's economic security
DOI:
https://doi.org/10.31649/ins.2024.2.20.32Keywords:
economic security, enterprise, economic security of an enterprise, components of economic security, innovative security, innovative security of an enterprise, innovationsAbstract
The article investigates the innovative component of the economic security of an enterprise. It considers different approaches to defining the concept of «economic security of an enterprise» and systematizes its key components. Particular attention is paid to the role of the innovative component in ensuring the economic stability and competitiveness of an enterprise. The essence of the concept of «innovative security of an enterprise» is analyzed from different scholarly perspectives. The main groups of risks affecting innovative security are identified: technological, market, and project risks. A system of indicators for evaluating the effectiveness of innovations is examined, considering the specifics of innovative activities. The necessity of an integrated approach to managing innovative security at an enterprise is substantiated.
Ensuring an adequate level of economic security is critical to the viability and efficient functioning of the enterprise. In this context, the innovative aspect occupies a prominent place, as it allows to adapt to the changing environment, increase competitiveness and ensure sustainable development. Also, it can be concluded that the innovative security of the enterprise is a complex state caused by the action of internal and external factors, which creates a favorable environment for the generation and implementation of innovations in all spheres of activity in order to achieve long-term competitiveness, the most efficient use of resources and the minimization of risks. In turn, the effective management of innovation security requires the implementation of systemic measures, such as: monitoring and minimization of innovation risks, formation of an innovation environment, implementation of an innovation strategy, application of relevant indicators for evaluating the effectiveness of innovations. Thus, the appropriate level of innovative security is the key to strengthening the economic stability of the enterprise, increasing its flexibility and adaptability in a dynamic market environment, as well as achieving long-term competitive advantages.
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