Abstract
Business competitiveness and innovation play an important role in producing new and innovative products, services, and processes which enable productivity, job creation, and finally sustainable development. The growth strategy for Europe sets a great emphasis on the investments in research and innovation in all sectors to address issues of businesses innovation performance and to create circumstances for prosperity: smart, sustainable, and inclusive growth. This paper tackled the importance of innovation and performance and performed a comparative analysis of two well-known instruments envisaged by strategic decision makers to monitor innovation performance and innovation uptake, as key means to identify developments needed for improvement changes: the Innobarometer 2016 – EU business innovation trends and the GE Global Innovation Barometer (GIB) 2018. The results capture and designate main differences and similarities between the two monitoring tools which assess innovation performance. Finally, the author stressed the benefits brought by both monitoring tools for those responsible for making decisions on innovation, products development and research.
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