Abstract:

European companies as well as for companies from other developed countries it is difficult to compete with low cost production from developing countries. One of their best competitive advantages in this fight can be innovations. Of course, due to the openness of Czech economy it is true also for Czech business companies.

Nowadays markets are changing – as well as they ever did – but today they are changing much more quickly than ever before. For companies it is necessary to stay flexible. Markets are more globalized but also more fragmented, life cycle of products shortens and quick copying of products is very common. But permanent flow of new and innovative ideas still can give companya crucial competitive advantage.

Main aim of this paper is to refer about quantitative questionnaire research among Czech business companies from spring 2012. This research focuses on the importance that Czech companies assign to innovations in relation to globalization of market in which they occur.It tries to find the answer to question if Czech business companies assign to innovations more importance than companies in more local or more global markets.

Within this research framework, this paper tries to describe some of the most significant nowadays market changes.