Measurement of company innovation potential by the complex innovation indicator

Abstract

Purpose – this paper aims to fill the gap by the identification and assessment of factors of company innovation potential and integrates them into a complex innovation index. The index offers not only the metric to measure overall company potential to innovate but also uncovers areas which are problematic for smooth company innovation performance. Research methodology – the Complex Innovation Index methodology consisted of qualitative research including a questionnaire survey in more than 50 companies and semi-conducted interviews with innovation managers and specialists. Findings – the result is the software-based calculation of the Index which represents a simple but powerful tool which helps company managers better manage company innovation strategy and policy. Research limitations – the methodology was aimed at the assessment of company innovation potential, no matter which industrial branch the company in question operates in. The methodology well suits to established companies but not to start-ups. Practical implications – the methodology enables to reveal main deficiencies and weak points of company innovation processes. The interface is accessible to all companies that are inclined to have its innovation potential measured. Originality/Value – the paper offers a unique and simple technique to measure the level of innovation capability in the company. It enables the company to identify deficiencies or weak points in its innovation performance.