FACTORS OF ENSURING ECONOMIC SECURITY IN THE PROCESS OF INNOVATIVE DEVELOPMENT OF ENTREPRENEURSHIP


Keywords: entrepreneurship, economic security, development, innovation, management, critical asset.

Abstract

Topicality. The urgency of our research is due to the fact that business security management creates a basis for innovative development of entrepreneurship. Ensuring economic security is a factor of innovative development of entrepreneurship, of advanced business management techniques using, of business efficiency increasing, and the world's production quality standards achieving.
Aim and tasks. The main purpose of the research is to develop theoretical and scientific-methodological statements for improving the business security management as a part of the process of innovative development of entrepreneurship in the context of ensuring the protection of all systems of the business entity from destructive influences, both internal and external factors, threats and dangers.
Research results. The idea is substantiated that business security management is designed to promote the continuity of the process of identifying critical, in terms of innovative development, assets and possible threats to these assets, as well as reducing any vulnerabilities through careful analysis and implementation of effective countermeasures to achieve an optimal level of protection of critical assets. It is established that regardless of the type of organization, in the assessment of existing threats and dangers to the innovative development of entrepreneurship should be indicated: firstly, which critical assets of the business entity need protection; secondly, what type of information and what means are needed to protect each asset; finely, how the loss, damage, or destruction of a critical asset will affect the innovative development of the business entity and its mission. The results indicate that the business security management should include: firstly, assessment of threats and dangers to innovative business development; secondly, vulnerability assessment and risk assessment, which allow decision-makers to ensure the economic security of business activities, to give priority to asset protection protocols; and finally, specific recommendations on how to block opportunities for enemy attacks and how to protect specific assets in terms of innovative development.
Conclusion. The results of the study allowed us to conclude that in the context of innovative development the business security management is the key to the long-term existence of economic entities and the formation of competitive advantages of their products in the market of goods and services. Business security management helps to eliminate additional threats and dangers that may be associated with innovative business development. Thus, only effective management of business security can guarantee the protection of all the business entity systems from destructive influences, both internal and external factors, to prevent and eliminate threats, contributing to the continuity of innovative development.

Author Biographies

B.V. BURKYNSKYI

Academician of the National Academy of Sciences of Ukraine, Dr. Econ. Sciences, Professor, Director
Institute of Market Problems and Economic & Ecological Research
of the National Academy of Sciences of Ukraine
Frantsuzkyi boulevard, 29, Odesa, Ukraine, 65044

V.F. GRYSHCHENKO

PhD (Economics), Associate Professor, Senior Researcher
Institute of Market Problems and Economic & Ecological Research of the
National Academy of Sciences of Ukraine
Frantsuzskiy Boulevard, 29, Odesa, Ukraine

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Published
2020-09-20
How to Cite
BURKYNSKYI, B., & GRYSHCHENKO, V. (2020). FACTORS OF ENSURING ECONOMIC SECURITY IN THE PROCESS OF INNOVATIVE DEVELOPMENT OF ENTREPRENEURSHIP. Economic Innovations, 22(3(76), 6-29. https://doi.org/https://doi.org/10.31520/ei.2020.22.3(76).6-29