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The aim of this study is to find out the relationship between innovation inputs and the effect of innovation inputs on innovation outcomes, and furthermore empirically prove whether innovation outcomes lead to firm performance. To achieve this, we categorized innovation inputs working as success factors in corporate innovation practices into ‘top management leadership’, ‘innovative organizational culture’, ‘innovation operating system’, and defined innovation outcomes as ‘process innovation’ and ‘product innovation’. 182 innovation experts working for POSCO affiliates were surveyed for the data collection. The results of the study are as follows. First, top management leadership had a positive effect on the creation of innovative organizational culture and the establishment of innovation operating system. Second, innovative organizational culture did not affect innovation outcomes such as process innovation and product innovation. Third, innovation operating systems had a positive influence on innovation outcomes consisting of process innovation and product innovation. Finally, innovation outcomes had a positive impact on firm performance.