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BIHE 7 th Annual International Conference “ Increasing the value of business:

Dr.oec. Andris Deniņš Professor of University of Latvia, President of Latvian Association of Business Consultants Impact of innovations on the value of business. BIHE 7 th Annual International Conference “ Increasing the value of business: new insights and approaches” 14 October 20005.

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BIHE 7 th Annual International Conference “ Increasing the value of business:

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  1. Dr.oec. Andris DeniņšProfessor of University of Latvia,President of Latvian Association of Business ConsultantsImpact of innovations on the value of business BIHE 7th Annual International Conference “Increasing the value of business: new insights and approaches” 14 October 20005

  2. Preconditions for innovative business activity • Introduction of new products and improvement of quality of the existing ones. • Introduction of new technologies and perfection of technological processes. • Research and development activities and development of intellectual potential.

  3. Inovation = a new invention or a new way to do things Encort, World English Dictionary

  4. Relationship of the system of innovative activity and business value Education Research Innovation Business New products New technologies Efficiency of utilisation of assets Business value

  5. Innovation ensures: • Increased value added • Higher production capacities • More economical utilisation of production resources • Increased cash flow • 2. Higher profit • 3. Lower risk for attracted capital

  6. Profile of innovative business in Latvia: • about  0.4% of GDP • state financing of R&D - more than 60% • About 15% of  technologies used in production are up-to-date • 4% of value of exports  in the high tech field • 19% of businesses introduce innovations in their operations

  7. Relationship of the system of innovative activity and business value Education Research Innovation Business New products New technologies Efficiency of utilisation of assets Business value

  8. Dr.oec. Andris DeniņšProfessor of University of Latvia,President of Latvian Association of Business ConsultantsImpact of innovations on the value of business BIHE 7th Annual International Conference “Increasing the value of business: new insights and approaches” 14 October 20005

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