Approaches to the management of the costs of innovation activity of mining enterprises: aspects of economic security

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Authors:

O.I.Maslak., Dr. Sc. (Econ.), Prof., Kremenchuk Mykhailo Ostrohradskyi National University, Head of the Economics Department, Kremenchuk, Ukraine.

N.Ye.Hryshko, Cand. Sc. (Econ.), Kremenchuk Mykhailo Ostrohradskyi National University, Associate Professor of the Economics Department, Kremenchuk, Ukraine.

K.O.Hlazunova, Cand. Sc. (Econ.), Kremenchuk Mykhailo Ostrohradskyi National University, Senior Lecturer of the Economics Department, Kremenchuk, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

K.O.Vorobiova, Cand. Sc. (Econ.), Kremenchuk Mykhailo Ostrohradskyi National University, Associate Professor of the Economics Department, Kremenchuk, Ukraine.

Abstract:

Purpose. Optimizing the parameters of the management of innovation costs of a mining company for the purposes of preserving its economic security.

Methodology. To achieve this goal the method of multi-objective optimization using analytic superstructure “Finding solutions” of the “Microsoft Excel” software package was applied.

Findings. The results of the evaluation of the effectiveness of the management of innovation costs have been presented. The influence of the correlation of the costs of innovation and the level of economic security has been identified. The basic steps and interrelations in the modeling of the safe development of a mining company have been displayed. The approach to the management parameters optimization of the innovation activity costs was developed. It allows organizing the preventive regulation and current control, timely responding to changes in the external and internal conditions, and it also helps to make an informed decision in the process of enterprise development strategy forming in modern conditions.

Originality. Scientific originality is to develop an approach that adequately describes a dual nature of the impact of investment and innovation activities on the state of economic security of mining companies. The method allows optimizing the parameters of the management of innovation costs that will enable mining companies to control innovation costs in terms of preserving their own economic security.

Practical value. To optimize the economic security of a mining company taking into account the implementation of additional innovative projects, the introduction of information technologies, such as a model of the economic growth parameter optimization using the PP MS Excel “Solver” has been proposed.

References:

1. State Statistics Service of Ukraine, 2014. The main indicators of the development of industry [online]. Kyiv: State Statistics Service of Ukraine. Available at: <http://www.ukrstat.gov.ua> [Accessed 14 January 2016].

2. Stock market infrastructure development agency of Ukraine, 2016. Annual financial statements of enterprises [online]. Kyiv: Stock market infrastructure development agency of Ukraine. Available at: <http://smida.gov.ua> [Accessed 14 January 2016].

3. Kozachenko, G. V., ed., 2012. The system of economic safety: the state, region and enterprise: monograph, Vol. 2, Luhansk: Virtualna realnist.

4. Nusinova, O. V., 2012. The foundations of the assessment of companies’ economic security: theoretical and practical aspects: monograph, Kyiv: Pantot.

5. Yashkina, O. I., 2013. Innovative activities of enterprises of Ukraine: trends and factors influencing Marketing and management of innovations, 4, pp. 181–189.

6. Grishko, N. Ye., 2015. The development of methodological tools of management of technical and technological subsystem of engineering enterprise’s economic security, Efficient economy, 2 [online]. Available at: <http://www.economy.nayka.com.ua> [Accessed 08 January 2016].

7. Vagonova, O. H. and Romaniuk, N. M., 2014. Economic justification stages of the investment project of mining and processing enterprise, Naukovyi visnyk Natsionalhoho Hirnychoho Universytetu, 3(141), pp. 159–164.

8. Pirogov, D., Maslak, O. and Grishko, N., 2012. Estimation of an enterprise’s economic security in foreign economic activities. Visnyk Kremenchutskoho natsionalnoho universytetu imeni Mykhayla Ostrohradskoho, 3/2012 (74), рр. 163–169.

9. Vagonova, O. H. and Kasianenko, L. V., 2014. Socio-economic aspects of investment companies in the field of labor. Naukovyi visnyk Natsionalhoho Hirnychoho Universytetu, 2, pp. 139–145.

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ISSN (print) 2071-2227,
ISSN (online) 2223-2362.
Journal was registered by Ministry of Justice of Ukraine.
Registration number КВ No.17742-6592PR dated April 27, 2011.

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