The effectiveness of the innovation project.
Innovation management
Management today is, first of all, - management based on continuous innovation. The most important part of management in all its guises become innovation - the process of constant renewal in all areas of business. Innovations include not only the technical and technological development, but also all of the changes that improve the company's activity (new products, new services, new facilities for customers, including prices, etc.). The innovation process - improving the balance between different areas of the company in the control of profitability of each segment. All innovations are carried out in a systematic, comprehensive analysis of various aspects of the firm, in which the main thing - do not compare the results with the already achieved, and the same potential (capacity) market, which is at the present time. The purpose of this analysis - to determine how well the company uses the opportunities of the market in each period.
A comprehensive analysis of the various aspects of the firm should include:
a) evaluate the desired position for the entrepreneur in the market of goods and services offered by the company at the present time;
b) the preferred location for the owner of the current products in new markets;
c) assessment of the products, providing the decision to cease production of any goods or services because of falling demand for them;
d) the possibility of producing new products and services to new markets;
d) changes in the sales system and other changes in the work to innovation.
In the area of ??innovation the entrepreneur has the following objectives:
-Mechanization, automation false, dirty, dangerous work;
-Involvement in the staff of the company employees more skill and create better material conditions for workers.
To meet these challenges, the entrepreneur must:
-Be committed to new ideas;
-Provide each employee fairly broad field, providing it is not detailed plan, a straitjacket, but brief instructions; encourage innovative ideas arising from subordinates to organize a special information in the firm foundation of innovation;
-Provide continuous training and development of staff and centralized, and, more importantly, on an individual basis.
Innovations in Russian conditions - the main means of survival of the firm in the market. Innovations need to be introduced as the market demands, but the owner is obliged to anticipate their need and feasibility. As part of the work in this area is recommended:
-Identification of the kinds of goods and services, which will provide the desired market share;
-Identification of goods and services, replacing outdated, introduction of innovations in all other areas of the firm (outsourcing, advertising, etc.);
-Balancing short-and long-term programs of innovation (how to increase arrive, how to make better use of available funds, etc.).
Requires continuous innovation and the organizational structure of the company, which must comply with the changes occurring in the market. The structure of the company should be simple and clear, to ensure the best return on the firm; contain the minimum number of intermediate links, to provide training for the managers of the company, taking into account the perspective and the competition between managers.
In today's market conditions ongoing transformation of the company and its employees to a new, improved basis are becoming increasingly important, so discuss it in more detail, and especially the role of scientific and technical progress.
In the era of technological revolution growth of scientific achievements, expanding technical and production potential of the industry and increasing the productivity of labor has important effects on the economic activity of enterprises. Intensification of research and development is a testament to the desire of most of the available scientific and technical potential to expand production and increase profits. Like any other form of capital investment, research aim to help increase profits received by this company. With the ultimate goal, the volume and nature of the research are mainly determined by the immediate needs of the markets served by the company and the exigencies of competition, as well as the ability of the relevant units of the firm. Further research on the development of new technologies, products and services has led to the development of a special sphere of in-house activities to create innovations. It is well known that a complex set of innovations understand the different types of activities, from the initial idea and the subsequent stages of research, development, design, production of the new model, and analysis of market revenues to sales of new products in the field of marketing. From a purely economic point of view of innovation - the profitable use of the scientific, technical and other achievements through the production of new consumer value. New features have now become one of the main reserves for economic growth of the firm, sustain and enhance its competitive position in the markets. Accelerating the process of creating and marketing new products is seen as an important component of the whole marketing strategy. It is clear that at the present time maintaining a specific sales volume by only possible with continuous entry into the market of new products and services.
Commercial risk - the risk that arises in the course of the sale of goods and services produced or purchased by the owner.
Business risks arise due to the following reasons:
lower sales volumes as a result of falling demand or need for the goods, realized entrepreneurial firm, ousting his rival products, the introduction of restrictions on the sale;
increase in the purchase price of the goods in the course of the business of the project;
unexpected decline in purchases compared with the target, reducing the scale of the operation and increases the cost per unit volume of sold goods (due to the relatively fixed costs);
loss of goods;
loss of product quality in the handling (transport, storage), which leads to a reduction in its price;
increase in distribution costs in comparison with the intended result of the payment of fines, contingency fees and charges, which leads to lower profits of business firms.
Commercial risk include:
risks associated with the sale of goods (services) on the market;
risks associated with the transportation of goods (transport);
risks associated with the acceptance of the goods (services) by the buyer;
risks associated with the buyer's ability to pay;
risk of force majeure.
We should also highlight the risk of transport, its classification was first shown the International Chamber of Commerce in Paris in 1919 and unified in 1936 to the present, various transportation risks are classified according to the degree of responsibility and in four groups: E, F, C, D.
Group E includes one situation - when the vendor (seller) holds the goods on their own warehouses (ExWorks). Risk lies with the supplier until the receipt of the goods by the buyer. The risk of transport from the seller's premises to the final destination is assumed by the buyer.
Group F consists of three specific situations transfer of responsibility and risk, respectively:
FCA means that the risk and responsibility of the seller are transferred to the buyer upon delivery of the goods at the appointed place;
FAS means that the responsibility and the risk for the goods pass from the supplier to the buyer at the port by the agreement;
FOB means that the seller will not accept liability after unloading the goods from the ship.
Group C includes situations where the exporter, seller conclude a contract with a buyer for transportation, but do not take on any risk. These are the following specific situations:
CFK means that the seller pays for transportation to the port of entry, but the risk and responsibility for the safety of the goods and the additional costs assumed by the buyer;
CIF means that apart responsibilities in case CFR, the seller provides insurance cover and the risks during transportation;
CPT means that the buyer and seller share the risk and responsibility. At a certain point (usually some intermediate point transport) risks completely transferred from the seller to the buyer;
CIP means that the risks are transferred from the seller to the buyer in a certain intermediate point of transportation, but other than that, the seller provides and pays the cost of the insurance product.
The last group of terms D means that all transport risks are borne by the seller. This group includes the following specific situations:
DAF means that the seller assumes the risk to some of the border. Next, take risks on the buyer;
DES means that the transfer of risk to the buyer by the seller takes place on board the ship;,
DEQ means that the transfer of risk occurs when the goods arrive at the port of loading;
DDU means that the seller takes the transportation risks to a certain place of the contract (most often warehouse) in the buyer;
DDP means that the seller is responsible for the transportation risks to a certain place on the territory of the buyer, but the buyer pays for it.
Of note is the fact that the domestic economic literature often the commercial risk is identified with entrepreneurial risk, but the risk of loss - a type of entrepreneurial risk
The effectiveness of the innovation project
One of the simplest and most widely used methods of evaluation is the method of determining the payback period. The payback period is determined by counting the number of years, during which the investment will be repaid through the income earned (net proceeds).
If the income (profit) received data is uneven, then the payback period equal to the period of time (number of years), for which the total net cash flows (cumulative gain) exceed the value of investments.
The method of calculating the payback period is the simplest in terms of applied calculations and acceptable to rank investment projects with different payback periods. However, it has some significant drawbacks.
First, it does not distinguish between projects with the same amount of total (cumulative) cash income, but with a different distribution of income over the years.
This method, secondly, do not take into account the income of the last period, ie periods of time after the repayment of the investment.
However, in many cases, the application of this simple method is appropriate. For example, in high-risk investments when the company is interested in a return on your investment as soon as possible, with rapid technological changes in the industry or if the enterprise liquidity problems the main parameter to be taken into account in the evaluation and selection of investment projects is just payback time investment.
The coefficient of efficiency of investments.
Another relatively simple method of evaluation of investment projects is the method of calculation of the efficiency of investment (ROI accounting).
The coefficient of efficiency of investments is calculated by dividing the average annual income by the average investment. In the calculation the average annual net earnings (net of tax profit contribution to the budget). The average value of investments is derived by dividing the initial value of investments in two.
The advantages of this method include the simplicity and clarity of the calculation, the ability to compare alternative projects one indicator. Disadvantages of the method due to the fact that it does not account for the temporal component of profit. So, for example, does not distinguish between projects with the same average, but actually changing data profit margin, as well as between projects, bringing the same average annual return, but for a different number of years.
The net present value.
The accumulated discounted revenues should be compared with the value of investments.
The total cumulative value of discounted income for n years will be equal to the discounted sum of the corresponding payments:
The difference between the total cumulative value of the discounted income and the initial investment is the net present value (net present effect):
Return on investment.
The application of the net present value, in spite of the real difficulties of its calculation, is preferable to the use of the method estimates the payback period and the efficiency of investment, since it considers time components of cash flows. This method allows you to calculate and compare not only the absolute values ??(net present value), but the relative performance to which the return on investment:
ROI as a relative measure is extremely convenient when you select one project from a number of alternative, having approximately the same values ??of the net present value of the investment or portfolio of investments in acquisition, ie, choosing a number of different options simultaneously investing funds that provide max-th net present value .
The use of the net present value of the investment can also be considered when forecasting calculations factor in inflation and the risk factor, in varying degrees inherent in different projects. Obviously, keeping these factors lead to a corresponding increase in the desired percentage by which return investments and thus the discount factor.
List of Books
1. Prigozhan AI Innovation: Incentives and barriers (Social Problems of Innovation). M. Politizdat. 1989.
2. Management consulting. In 2 T. 1 / Trans. from English. Moscow: JV "Interekspert." 1992.
3. Drucker PF New reality. The government and politics. In economics and business. In a society and world view. M. Beech Chember International, 1994.
4. Mekson MH, Albert M.. Hedourn F. Principles of Management / Trans. from English. M: Business, 1992.
5. Belobragin VY Modern problems of territorial control production efficiency and product quality in the conditions of the market. - M: Standards Press, 1994.
6. Belokopytov N., Panasenko G. History and Culture Management: Atlanta: Kn. Publishing House, 1994.
7. Business Manager and / Comp. JS Drahovsky, IP Chernoivanov, TV Prehul. - M: Azimuth Center, 1992.
8. Blyakhman LS et al Introduction to Management: A Textbook. Manual / LS Blyakhman, VP Galenko, A. Minkin, St. Petersburg.: SP6UEF Publishing House, 1994.
8. Weill P. Art of Management: New Ideas for the world of chaotic change: Trans. from English. - Moscow News, 1993.
9. Vikhansky OS, Naumov A. Management: Textbook. - M.: High. School, 1994.
For preparation of this work were used materials from the site http://referat.ru/
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