Company Value Creation through Effective Innovation Process Management

Špaček, Miroslav; Vacík, Emil

doi:10.24840/2183-0606_004.003_0006

Cited by 13 publications

(9 citation statements)

References 14 publications

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“…Owing to the simplicity of the model, all developed ideas will be implemented at some point and none will be discarded. This is not in line with the common Stage Gate Process for innovation (Špa cek and Vacík, 2016), where ideas undergo scrutiny before they are pursued any further. In the model, however, for reasons of simplicity, we assume that the more ideas which are developed lead to a higher probability that a higher number of them are good, new and useful and will be implemented.…”

Section: Simulation Modelmentioning

confidence: 75%

Driver or inhibitor for innovation?

Kreidler

Tilebein

2018

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Purpose Literature is unanimous about the effects of functional diversity in new product development teams. This paper uses simulation modeling to investigate the contradictory and dynamic effects of functional team diversity on innovation revealed by empirical literature. This paper aims to start a discussion on this dynamic perspective of team diversity. Design/methodology/approach This paper presents a systemic approach toward investigating the contradictory and dynamic effects of functional team diversity on innovation by creating a simplified System Dynamics model of functional diversity in new product development teams. Findings Although the simulation model is highly simplified, it can integrate the contradictory results of empirical data and the dynamic component of teamwork. Therefore, it offers a new approach to investigating the effects of functional diversity on team innovation. Research limitations/implications The model is highly simplified and exemplary. No actual data are included, thus limiting the results as fully theoretical. Originality/value Empirical studies often analyze the effects of functional diversity on innovation in new product development teams. However, empirical data are unclear regarding the nature of the effects of functional diversity on innovation. Therefore, functional diversity is chosen for the simulation model as being the most controversially discussed diversity attribute. By applying a simulation model to the problem and adding a dynamic component to teamwork, we are contributing to the explanation for the contradictory findings in literature.

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Section: Simulation Modelmentioning

confidence: 75%

Driver or inhibitor for innovation?

Kreidler

Tilebein

2018

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“…It is also important to note that investment in R&D may not have an immediate practical effect. R&D effort is necessarily an activity with a high level of uncertainty, in which the return on investment is assumed to be difficult to predict (Spacek and Vacik, 2016). However, the accumulated knowledge is an asset of the company which, if well managed, can become a competitive advantage.…”

Section: Literature Reviewmentioning

confidence: 99%

EXPLORING THE ASSOCIATION BETWEEN R&D EXPENDITURE AND THE JOB QUALITY IN THE EUROPEAN UNION

Almeida

Amoedo

2020

SCECO

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<p><em>Investment in research and development is a key factor in increasing countries' competitiveness. However, its impact can potentially be broader and include other socially relevant elements like job quality. In effect, the quantity of generated jobs is an incomplete indicator since it does not allow to conclude on the quality of the job generated. In this sense, this paper intends to explore the relevance of R&D investments for the job quality in the European Union between 2009 and 2018. For this purpose, we investigate the effects of R&D expenditures made by the business sector, government, and higher education sector on three dimensions of job quality. Three research methods are employed, i.e. univariate linear analysis, multiple linear analysis, and cluster analysis. The findings only confirm the association between R&D expenditure and the number of hours worked, such that the European Union countries with the highest R&D expenses are those with the lowest average weekly working hours.</em></p>

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“…The companies which are listed on the Stock Exchange can use the correlation between relative investments into innovation (e.g. investment expenditure to sales) and share price increase (Špaček & Vacík, 2016). Many metrics can be applied for innovation performance.…”

Section: Current Approaches To Innovation Measurementmentioning

confidence: 99%

Measurement of company innovation potential by the complex innovation indicator

Špaček¹

2019

Proceedings of 6th International Scientific Conference Contemporary Issues in Business, Management and Economics Engineering ‘2

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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.

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Company Value Creation through Effective Innovation Process Management

Cited by 13 publications

References 14 publications

Driver or inhibitor for innovation?

Driver or inhibitor for innovation?

EXPLORING THE ASSOCIATION BETWEEN R&D EXPENDITURE AND THE JOB QUALITY IN THE EUROPEAN UNION

Measurement of company innovation potential by the complex innovation indicator

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