Abstract
This article describes theoretical fundamentals and the most rational approaches to establishment of the economic protection system for business entities in the Russian space industry in the current geopolitical environment. This research focuses on non-stationary business environment, in which enterprises of the Russian rocket and space industry operate. The applied methods are based on the economic analysis theory and mathematical tools of the probability theory, project management theory, mathematical statistics, economic and mathematical modeling. The main features of the space industry (which is a high-tech industry) include huge innovation capacity, sophisticated system of pass-through financing from various sources, development and production within complete life cycle of high-tech products, high RD financial resources provisioning method; evasion method, which rejects too risky projects. DOI: 10.5901/mjss.2015.v6n4s4p414
Highlights
Utilization of rocket and space technologies shows that technological modernization, sophistication of high-tech products, operation of the space industry in volatile and uncertain research, production, financial and economic environments is accompanied by increase of various risks (Kachalov, R.M., 2012)
This research focuses on the non-stationary business environment, in which companies of the Russian rocket and space industry operate, and which is known for its weak predictability and uncertainty of its current and prospective condition, as well as high levels of business, research and technological risks generated by these factors, related to those space operations which are very sophisticated and significant for the national economy and defense (Kachalov, R.M., 2014)
Let’s illustrate qualitative analysis of financial and economic security condition using the case of high-tech engineering industry, which may be described by certain system of security indicators under normal conditions of operation, threshold parameters of critical condition level and the indicators of actual condition (Table 2)
Summary
Utilization of rocket and space technologies shows that technological modernization, sophistication of high-tech products, operation of the space industry in volatile and uncertain research, production, financial and economic environments is accompanied by increase of various risks (Kachalov, R.M., 2012). In order to improve performance, we need to analyze risks and threats, emerging (with certain degree of certainty) in the course of implementation of space programs and projects (Dadalko, W.A. and Pitulko, S.Y., 2010), as well as to study state-of-the-art efficient institutional arrangements, financial and economic tools applied globally in order to cover relevant risks (including those related to operations of the space industry). This research focuses on the non-stationary business environment, in which companies of the Russian rocket and space industry operate, and which is known for its weak predictability and uncertainty of its current and prospective condition, as well as high levels of business, research and technological risks generated by these factors, related to those space operations which are very sophisticated and significant for the national economy and defense (Kachalov, R.M., 2014).
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