The building evaluation system of innovation vitality on enterprises: Based on an exploratory factor analysis
image: The enterprises’ innovation vitality evaluation system is the goal layer, and the several subsystems including Innovation persistence, Innovation volatility, and Innovation growth constitute the criterion layer (as depicted in A, B, and C), and some more micro indicators constitute the indicator layer (as depicted in A1/B1/C1, A2/B2/C2,..., An/Bn/Cn).
Credit: Yutao SUN, Xiaofei ZHANG, Jiaying LIU
A research team led by Dr. Yutao Sun from Dalian University of Technology, along with co-authors from the same institution, has presented a pioneering innovation vitality evaluation system. Published in Frontiers of Engineering Management, the paper outlines how enterprises’ ability to foster innovation vitality—often considered an essential aspect of their competitive edge—can be effectively assessed through an integrated model.
By conducting exploratory factor analysis (EFA) on data from Chinese listed companies in advanced material manufacturing, the study defines innovation vitality through three key dimensions: innovation persistence, volatility, and growth. These dimensions capture both the long-term stability and dynamic characteristics of innovation within organizations.
The study identifies that innovation persistence reflects the enterprise’s ability to consistently generate new ideas and outputs, ensuring long-term competitiveness. Innovation volatility, on the other hand, accounts for fluctuations and adaptability within the innovation process, reflecting an organization’s ability to respond to changes in market dynamics. Lastly, innovation growth measures the trajectory of an enterprise’s innovation efforts, underscoring the long-term development and expansion of its innovative capabilities.
The research also introduces 18 specific indicators for measuring each of these dimensions, such as R&D investment intensity, the number of R&D personnel, and patent application trends. These indicators were derived from a comprehensive data set, including measures of patent transfers and cooperation with external partners. This evaluation system is especially relevant for enterprises striving to innovate continuously in competitive industries. It provides a systematic approach for companies to assess their innovation strengths and pinpoint areas for improvement. Additionally, this research contributes to the broader academic discussion by offering a more objective and quantifiable method for evaluating innovation vitality, thus enabling more precise management and policy-making decision