Evaluation of innovation processes

Jakub Tabas, Michaela Beranová and Josef Polák
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Jakub Tabas: Ústav podnikové ekonomiky, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika
Michaela Beranová: Ústav podnikové ekonomiky, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika
Josef Polák: Ústav podnikové ekonomiky, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republika

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2012, vol. 60, issue 2, 523-532

Abstract: In present, innovations are spoken as an engine of the world economy because the innovations are transforming not only business entities but the whole industries. The innovations have become a necessity for business entities in order to survive on floating challenging markets. This way, innovations are driving force of companies' performance. The problem which arises here is a question of measurement innovation's effect on the financial performance of company or selection between two or more possible variants of innovation's realization.Various authors which are focused on innovations processes are divided into two groups in their attitudes towards the question of influence of innovations on financial performance of companies. One group of the authors present the idea that any reliable measurement is not possible or efficient. The second group of authors present some methods theoretically applicable on this measurement but they base their approaches mostly on the methods of measurement of investments effectiveness or they suggest employment of indicators or ratios which wouldn't be clearly connected with the outcome of innovation process.The aim of submitted article is to compare different approaches to evaluation of the innovation processes. The authors compare various approaches here and by use of analysis and synthesis, they determine their own method how to measure outcome of innovation process.

Keywords: barriers to innovation processes; effectiveness; efficiency; financial performance; innovation (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:mup:actaun:actaun_2012060020523

DOI: 10.11118/actaun201260020523

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