Competitive Advantage Achievement through Innovation and Knowledge

In today’s highly competitive environment the goal of each organisation is to defeat competition and win new customers. Individuals who are holders of knowledge represent a tool for the generation of innovations. Thanks to their personal creativity, their knowledge, skills and abilities it is possible to generate new innovative ideas that will help organisations to achieve a competitiveadvantage. The aim of the article is to present the findings of a survey targeted at innovations and to identify knowledge as an important element in the process of innovations. Primary data were obtained through a questionnaire survey carried out in organisations in the Czech Republic and evaluated using the tools of descriptive statistics and also the methods of comparison, induction, deduction and synthesis were applied. One of the conclusions of the article is that organisations find it important to innovate and support an innovative culture. Knowledge too is very significant in the innovation process since it represents not only important input, but also output of the transformation process.