Table 7 Correlation matrix for subjective and actual indicators of economic performance

Improved competitiveness via product innovation

1

Cost cutting via process innovation

0.112

1

Increased revenue via product certifications and accreditations

0.210^**

0.122

1

Increase in assets

0.082

0.024

0.244^**

1

Increase in equity

0.027

0.060

0.196^*

0.462 ^**

1

Increase in sales

0.046

0.097

0.273^**

0.424 ^**

0.207 ^**

1

Increase in value added

0.124

0.079

0.221^**

0.525 ^**

0.306 ^**

0.663 ^**