Consideration of risks is a recent development. Such scholars as Drucker P. [6],
Hoffe V. [9], Holubenko H. [11], Malovychko A. [14], Bachkai T., Messena D., Miko
D. [15], Shevchenko O. [17], Shpak N., Romanyshyn M. [18] and others cover this
question.
But formalization of venture strategies development for industrial enterprises,
that would allow not only implementing of venture projects but leading enterprises to
the best competitive positions remain formulated not enough and require detailed
scientific basis.
Approaches to the classification and development of venture strategies of
an industrial enterprise. Generally, all venture companies have similar development
trajectories and, accordingly, decision-making mechanisms. Consequently, when
forming a venture strategy, they should take into account risk, investment, and
innovative peculiarities of the activity. It is to detail them.
One of the most common classifications of competitive strategies is their
division into four groups depending on the size of the enterprise:
1. Violent strategy (for big, economically powerful enterprises) - mass production
of cheap but high-quality products.
2. Patient strategy (for medium, economically stable enterprises) - specialized
production of a limited number of narrow specialized high-quality products.
3. Exploratory strategy (for small and medium enterprises) - experimental
production of radical innovations.
4. Commuting strategy (for small weak enterprises) – multifunctional, small,
flexible production of small amount of products for (local) market needs.
If we consider these strategies through the prism of the company’s life cycle,
then at the beginning of its development the commuting strategy makes economic
sense. When the enterprise gains capacities and it will do something better than others,
then transition to a specialized patient strategy may be possible. If the innovative
development of the company is successful, then the exploratory strategy is chosen as
the risky path of the scientific and technological breakthrough. If the chosen
specialization proves itself to be a long-range one, then the enterprise will be able to
expand its market by switching to the violent strategy, launching mass production,
demand for which is rapidly growing.
Depending on the methods of risks consideration, the following strategies are
distinguished:
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Risks free (for example, in case of receiving budget investment funds);
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Risks avoidance (considering a series of measures/expenses in order to eliminate
possible risks);
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