Innovative projects with real options in textile production: evaluation of their effect

Sergey Filin,Lyubov Chaykovskaya,Alexey Yakushev,Vladimir Velikorossov,Zhumahan Myrkhalykov

doi:10.1051/e3sconf/202017605010

Sergey Filin, Lyubov Chaykovskaya + Show 3 more

Open Access

https://doi.org/10.1051/e3sconf/202017605010

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Abstract

The article raises a relevant topic - increasing the objectivity of assessing the effect of innovative projects with real options in the textile industry. The purpose of this article is to offer recommendations for assessing the effect of innovative projects with real options implemented in the textile industry. The novelty of the article is to identify trends in the development of textile production in Russia and to propose a mathematical model for assessing the effect of innovative projects with real options implemented in textile production. A forecast and an analysis of the main strategic directions of development of the Russian textile industry until 2025 were made. It was concluded that the use of real options changes approaches to innovative projects implemented by textile enterprises, which can lead to a change in the nomenclature and assortment produced within the framework of this project and the enterprise in overall textile products and the extent of its supply.

Highlights

Russia does not have climatic conditions for the production of natural textile raw materials, with the exception of flax and hemp, the production of which is insufficient due to the weak development of this subspecies of activity in agriculture
The Russian textile industry does not have competitive advantages in providing them [1], a significant part of the innovations in the textile industry lies in the field of product policy and the Methodology for Demand and Sales Promotion (MDSP), and the rest of the innovations, even with a high degree of introduction of changes are not based on fundamental scientific knowledge; currently, in the textile industry in Russia, innovative developments are carried out in the field of [13]: 1) modern reinforcing materials for composite structural products based on axial webs and the technology of their manufacture using a series of components from Russian raw materials
When investing in Russian textile enterprises, investors take into account that investments can be transformed into sunk costs and thereby make investments irreversible, as a result of which they refuse to invest until the prices for textile products under the project provide a profit significantly exceeding long-term investments

Summary

Introduction

Russia does not have climatic conditions for the production of natural textile raw materials, with the exception of flax and hemp, the production of which is insufficient due to the weak development of this subspecies of activity in agriculture. The demographic crisis deprived the Russian textile industry of cheap labor, and attracting foreign labor is impractical: as foreign experience shows, moving technologies to places of labor formation is more cost-effective [1]. For the formation of competitive advantages by textile enterprises, it is necessary to create a system of innovative technologies for the production of textiles and products from it. Based on the theory of innovative development, it seems possible to create such technologies due to the presence of the following factors: 1) almost all technologies of the textile industry in the world are mature, there are conditions for changing the technological base. This, in turn, provides the opportunity to obtain a synergistic effect through the development of appropriate technologies in other sectors of the economy and allows textile enterprises to form a textile production subject area, knowledge capital and intellectual property [2]

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