The innovation management is the key activity for enterprises and it plays a significant role in pursuing core competence and sustainable profit. To achieve high performance, enterprises no longer merely rest on technology innovation but call for innovation synergy between both technology and non-technology elements including organization, strategy, culture, market, etc. The All Element Innovation (AEI), one aspect of TIM theory, aims at providing facilitating method for encouraging and regulating innovation of all synergic elements. In this paper, the system dynamics model of AEI is established to study the impact of the portfolio of innovation elements on enterprise’s innovation performance. By simulation and policy analysis of the SD model, the interaction and dynamic characteristics of AEI is successfully worked out. The simulating results indicate that, for single element, culture and strategy influence the performance most significantly. In addition, the portfolio of culture and strategy, strategy and organization have the most profound effect on performance. Furthermore, we discover that the innovation performance with multiple coordinated elements is obviously higher than that with single or a few elements, thus confirming that heightened performance depends on synergic innovation process with multiple innovation elements involved.