Model of balanced innovative management by iron ore enterprises production

Ruslan Vorobiov


The article is based on the idea of developing a mathematical economic model of balanced innovative management of the production of iron ore enterprises. It has been determined that in the era of global and local economic crises, the non-specialized entities of entrepreneurial activity, which in their natural state are iron ore enterprises, have become especially vulnerable. Monopoly, on the one hand, is a positive phenomenon that allows increasing the concentration of efforts and resources in order to achieve the greatest efficiency and profitability. On the other hand, it is a factor of significant losses under certain circumstances. That is, in the case of an unfavourable state of the domestic and / or foreign markets, significant reductions (in some cases to practically zero) of sales volumes, with subsequent decrease of production output and other negative events that may occur thereafter can be substantially reduced. Consequently, such entities (and in the first place iron ore enterprises), first of all, need modern tools of balanced innovation management of their own production.

It is proved that the most optimal basis for the formation of such an instrument is V. Leontiev's management-model "cost-issue", which is the classical method of systematically quantitatively reflection of any economic relations between different branches of the economic system and, accordingly, can be successfully used for micro level.

Based on the basis of the results of the research, the concept of an adapted economic model of balanced innovation management for the production of an iron ore plant has been constructed.

On the basis of this, a special innovation model for managing the production processes of the iron ore industry has been formed, taking into account the territorial orientation towards the target market and the ratio of basic production resources.


balanced innovative production management; iron ore company; mathematical economic model; management model "cost-issue"; domestic and foreign markets

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Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa

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