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Managing the Risks of Innovative Activities Focused on the Consumer Market: Competitiveness vs. Corporate Responsibility

Author

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  • Julia V. Ragulina

    (Compliance and Controlling Department, Peoples’ Friendship University of Russia (RUDN), 6 Miklukho-Maklay St., 117198 Moscow, Russia)

  • Stanislav E. Prokofyev

    (State and Municipal Administration, Financial University under the Government of the Russian Federation, 49 Leningradsky Ave., 125167 Moscow, Russia)

  • Tatyana V. Bratarchuk

    (State and Municipal Administration, Financial University under the Government of the Russian Federation, 49 Leningradsky Ave., 125167 Moscow, Russia)

Abstract

Purpose This paper aims to study the specifics of managing the risks of innovative activities during the implementation of the Sustainable Development Goals (SDGs) in entrepreneurship that is focused on the consumer market in countries with different levels of income. Design/methodology/approach The research is performed with the help of regression analysis (one-factor and multiple simple linear regression). Two samples are created for this: (1) countries with high income and (2) upper middle income and countries with lower middle income, according to the classification of World Bank GNI per capita in current USD (Atlas method). Findings It is determined that priorities of the consumer market (demand) are differentiated among countries with different levels of income. In countries with high income and upper middle income, corporate social responsibility does not determine the quality of life. Only competitiveness is a milestone during the implementation of the SDGs in entrepreneurship activities focused on the consumer market. In countries with lower middle income, neither corporate responsibility nor competitiveness is the decisive factor in managing the risks of innovative activities focused on the consumer market. Originality The originality of this research consists in a new view of competitiveness and corporate responsibility from the positions of their influence on the implementation of the SDGs entrepreneurship focused on the consumer market. Social implications Due to the practical implementation of the offered recommendations for corporate management of improving the practice of managing the risks of innovative activities focused on the consumer market, the Quality of Life Index will grow by 44.95% in countries with high income and upper middle income and by 98.69% in countries with lower middle income.

Suggested Citation

  • Julia V. Ragulina & Stanislav E. Prokofyev & Tatyana V. Bratarchuk, 2021. "Managing the Risks of Innovative Activities Focused on the Consumer Market: Competitiveness vs. Corporate Responsibility," Risks, MDPI, vol. 9(10), pages 1-14, September.
    • Handle: RePEc:gam:jrisks:v:9:y:2021:i:10:p:173-:d:644014
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    References listed on IDEAS

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    Cited by:

    1. Sergei G. Vagin & Elena I. Kostyukova & Natalia E. Spiridonova & Tatiana M. Vorozheykina, 2022. "Financial Risk Management Based on Corporate Social Responsibility in the Interests of Sustainable Development," Risks, MDPI, vol. 10(2), pages 1-13, February.

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