The enterprise risk management and financing innovation in modern market realities

Abstract

Today not only governments but more and more enterprises are realizing the importance of innovation to gain competitive advantage. The modern tendencies in national and world economy, global markets development, dynamic business and informational environment, high level of market competition, socioeconomic and political instability in Ukraine, rapidly changing customer needs and many other factors have caused the necessity to discover what opportunities exist now, or are likely to emerge in the future. Thus enterprises are engaging themselves in various innovative activities, ranging from manufacturing processes to product improvement, service propositions and brand building initiatives, because innovation is the only factor which can sustain long-run growth.