Main Article Content
A business entity interested in long-term business, should realise innovations that drive business and are regarded as a tool to maintain competitiveness. A number of studies and research papers show that innovation has a significant role in the social and economic development. This paper focuses on innovation and information processes and their impact on overall business performance of industrial enterprises in Slovakia, mainly from wood-processing, automotive and engineering industries (N = 164). The business performance was expressed through Return on equity (ROE). The results point that these industrial companies from Slovakia have a strong focus on the systematic application of innovation procedures and specific business processes. Companies that use technological innovations achieve above average ROE value more than 7% (statistically significant dependence p-value < 0.05, the alpha level associated with 95% confidence level) and they need a system to formulate how innovation help them to survive and improve their performance.
Keywords: Business process management, innovation, business performance, strategic management, industry.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).