Statistical Analysis for Strategic Innovation Decisions in Slovenian Mechanical Industry

The objective of this study is to identify the main factors influencing the innovation and R&D performance of the machinery and equipment manufacturing industry in the Republic of Slovenia (RS). The research is based on statistical data from the Statistical Office of RS. Spearman’s coefficient of correlation has been applied to the entire set of input and output variables in calculating the correlation coefficients. Results indicate the existence of two clusters of companies. Both are innovation followers but differ in their capabilities to produce breakthrough innovations and innovation-related turnover. For both of them, no correlation between the innovation outputs and business/financial performance is present. Based on the empirical findings, we propose some organizational areas where additional managerial effort needs to be invested. Thus, the research also has a practical implication for the enterprises as well as for the national policy makers.

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