Issue: 2011/Vol.21/No.3-4, Pages 57-68
SELECTED ASPECTS OF THE VALUATION OF INNOVATIVE UNDERTAKINGS
Edward Stawasz
, Daniel Stos
Cite as: E. Stawasz, D. Stos. Selected aspects of the valuation of innovative undertakings. Operations Research and Decisions 2011: 21(3-4), 57-68. DOI 10.5277/ord1203-0404
Abstract
The paper presents a review of selected approaches and methods of the valuation of innovative undertakings useful for effective innovation management. These methods are based on the concept of the so called staged valuation process. The method of valuating outcomes of an innovative project within a commercial enterprise is presented within the framework of economic assessment of an in- novative project. The duration of the competitive advantage achieved due to the implementation of innovations in a company can be one of the methods of measuring gains from innovation. This indica- tor can be widely applied both for a leader that leaves the competition behind due to the effect of an innovative project and for a company that reduces the distance separating it from the leader.
Keywords: innovative project, methods and indicators of valuation
Received: Accepted: