Year: 2023 | Month: December | Volume 68 | Issue 4

Risk Management Strategy for International Investment Projects of an Innovative Enterprise in the Context of Industry 4.0

Yingxue Duan Olena Shuplat Viktoriia Matsuka Svitlana Lukash Maryna Horbashevska and Liudmyla Kyslova
DOI:10.46852/0424-2513.4.2023.16

Abstract:

The significance of risk management within the framework of Industry 4.0 is on the rise, particularly
within the realm of international investment projects. Contemporary technological advancements, such
as artificial intelligence and blockchain, are not only ushering in fresh prospects but are also instigating
the emergence of novel categories of risks. The primary objective of this investigation is to formulate
an all-encompassing strategic risk management framework tailored to innovative enterprises operating
within the purview of Industry 4.0. The envisaged research endeavour encompasses a thorough scrutiny
of existing methodologies and models, along with an exploration of contentious dimensions within this
domain. The study’s findings encompass criteria for the evaluation and quantification of risks, in addition
to pivotal risk factors that exert notable influence on the efficacy of international investment projects. The
pragmatic import of this investigation resides in its potential utility for enhancing managerial decisionmaking
across various tiers of the organizational hierarchy. The presented material seeks to facilitate
the alignment of conventional risk management approaches with the intricacies inherent in Industry 4.0.
Nonetheless, it is imperative to acknowledge that the efficacy of the formulated model may hinge upon
contextual nuances and might necessitate supplementary adaptations.

Highlights

  • The rise of Industry 4.0 and the introduction of cutting-edge technologies have necessitated the development of a more flexible and timely risk management approach, particularly for international investment projects, as traditional risk management methods like PERT and SWOT have become less effective in this context.
  • An integrated strategic risk management model designed for innovative enterprises operating within the framework of Industry 4.0 should exhibit characteristics of flexibility, adaptability, and openness, allowing organizations to efficiently respond to rapidly evolving market dynamics while accommodating the complexities of the human element and ethical and social considerations.




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