Practical interpretation of quantitative evaluation of companys innovative activity

The present article contains the authors interpretation of quantitativevalues of key components of companys innovative activity. The composite notion of innovative activity is analysed in the introductorypart of the article. The author provides his own definition of innovative activity, which takes into account the composite nature ofthe strategic characteristic in question. Thereafter, the key blocks of the authors methodology for integral evaluation of innovative activityare outlined, each block being devoted to assess a corresponding component of innovative activity: resource, resultant and statisticalones. The core part of the article contains the authors interpretations of innovative activity components values including quantitativeand qualitative subcomponents of the resource component, the resultant and statistical components as well as the integral value fororganizations innovative activity. Levels of quantitative and qualitative subcomponents of innovative activity resource component aresuggested to be seen as a basis for a decision on companys innovative strategy. A 2x2 matrix is used in order to structure innovativestrategies with respect to the levels of quantitative and qualitative resources required for their effective realization. Furthermore, theauthor suggests to group companies based on values of their resource and resultant innovative activity components, each group disposinga unique set of characteristics of innovation activity and specific ways to increase its effectiveness. Assessment of the statisticalcomponent of innovative activity allows formal consideration of an organization as innovatively active or passive depending on the levelof compliance with specific requirements. The integral value of companys innovative activity is suggested to be illustrated with thehelp of a radar chart, reflecting the significance of values of its components. The chart clearly and informatively displays the performanceof organizations innovative activity. As a bottom line, the author summarizes the possibilities presented by consistent evaluationand interpretation of innovative activity including: monitoring of level of resources required for innovative activity as well as ways ofincreasing its effectiveness; serving a basis for decision-making on innovative strategy which can be effectively realized by the company;formal division of companies into innovatively active and passive (with respect to the level of compliance with certain criteria);displaying level of balance between innovative activity components.

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