The objective of the present article is to highlight the concept of innovation performance, its importance and the different elements that could potentially enhance it within an organization. Through critical appraisal of the literature, the paper has attempted to shed light on how innovation performance is essentially important for businesses to thrive in the current global economy via focusing on prospects like corporate entrepreneurship and employee engagement. The review has concluded that Innovation and more importantly, employee performance towards bringing innovative is critical for businesses. Corporate entrepreneurship is an evolving concept that talks about nurturing and establishing such an environment that supports and motivates people to work with initiative mindset, indulging in creativity and innovation within the organization. Notably, past empirical evidence has underscored employee engagement to be highly significant in enhancing performance focused outcomes. The paper had attempted to establish how corporate entrepreneurship can enhance innovation performance within an organization. Importantly, the paper has also outlined pivotal role of employee engagement as a potential moderator to enrich this relationship. The paper has forwarded research model highlighting severe paucity of research and mature significance for fostering innovation performance at the workplace.