Statistically Based Development of Corporate Innovation Metrics System

Performance assessment of any company is a complex process that includes a comprehensive analysis of its market position, opportunities and threats from the external environment, and weaknesses and strengths within the organization. To make a competent management decision related to the innovative activity of an enterprise, company managers must have appropriate information. There are no universal metrics to measure innovation. The aim of this paper is the formation and adaption of statistical market indicators to assess innovation efficiency. These indicators are benchmarks that help identify key factors and aspects of innovation. The evidence is from consumer goods industry. The proposed metric is applied in IMS Company. Statistics indicate a decline in innovation activity in the industry. That indicates the need for the development of programs to support innovative entrepreneurship. © 2021, The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG.