Innovators performance measurement Evidence based on intellectual assets utilization of enterprises in Poland

Abstract

The experience of highly developed countries proves that innovation is the driving force of economy. Emerging economies should in particular be focused on innovation, in order to achieve higher productivity and boost their competitive advantage. This is especially important in the current reality of disruptive changes related to IT and ICT new technologies rapid emergence. Technologies already partly adopted on the ground of industrial automation lead to further implementations in many sectors of economy. The reality is often adverse. This particularly concerns insufficient activities of enterprises with respect to intellectual assets creation. Although some progress is observed, emerging economies enterprises rather applicate existing solutions, than invest in their own intellectual assets. Furthermore, financial performance measures concerning innovation activity of enterprises often provide mixed findings. In this context, the purpose of this paper was threefold: to propose a practical set of adjusted performance measures, to verify if innovators sustain performance development and receive additional economic profits, and finally to encourage stronger innovation engagement of managers and entrepreneurs. The results of this empirical study proved that the selected group of enterprises generated positive performance development within three perspectives: financial, economic and intellectual capital efficiency. Moreover, these enterprises seem to have additional innovation bias revealed by further investments of retained profits in new implementations, which should also be taken into consideration with respect to performance measures.