Abstract:

The paper presents an essential indicator of the development of a company which creates an innovative potential as a base for its competitiveness. The authors focused on the role of innovations in the process of value creation, as innovations are a dynamic advance of production and growth. Based on the economic analysis, the authors tried to point out to the development in the opinions on new economics with the emphasising changes in the process of globalisation, the impact of network economy as well as new quality with the advent of information and communications technologies. The article aims to identify the causes of insufficient competitiveness and realised innovations in companies of the food industry of the Slovak Republic.