Updating approaches to risk identification of enterprise innovation

The article defines the innovation risk as an uncertainty impeding the creation of innovation value. The paper analyzes the current approaches to risks classification and substantiates the necessity of improving them. Based on the identification of the main risk factors in innovative activities, the author develops the multi-level risks classification for the innovation subject. The study reviews the essence of innovation risks and their impact on management results. From the standpoint of economic mechanism of such effects, the author distinguishes four risk groups: risks that affect the demand for the innovative product, the price of the innovative product, the duration of its presence on the market and risks influencing the entrance of the innovative product to the market. The above-mentioned mechanisms are illustrated by the graphical models.