Measuring the Capacity of Organizations Innovation ‒ Major Process of Innovation Management

Abstract

The article approaches the problem of companies’ success in today’s economic context, characterized by a generalized market with increasing competitive and client requirements. In order to stay on the market and to make profit the companies must change or improve their way of thinking, such that they can be more adaptable to the rapid information changes. A solution to this problem is innovation, which is a complex phenomenon that needs to be understood and measured in every company. The aim of this paper is to present a measurement tool to analyse the extent of innovation. The authors have divided the complex phenomenon of innovation in seven types of innovation according to their influence in the company, for each type of innovation proposing a set of measuring indicators. To widen the extent of analysis, this paper used two research methods, namely: the expert method - using the Quality Function Deployment (QFD) that focuses on the requirements for innovation performance and on a different set of indicators to calculate the importance of each type of indicator; and the survey method ‒ using a questionnaire, a representative sample of firms to check the current extent of innovation and to offer suggestions for improving innovation management.

Keywords

• innovation
• innovation management
• innovation indicators
• innovation matrix
• metrics of innovation
• business improvement success.