The Significance of Theoretical Knowledge for Business Innovation

Abstract

The paper presents the results of study which was focused on the importance of knowledge in innovation management. Innovation is significant for many companies and it represents a complicated mechanism. Knowledge one could gain by education and education brings valuable knowledge. The paper is based on primary research due to the questionnaire research. The research was hold in the year 2014 in the Czech Republic. The study involved two phases. The first one was secondary research based on review of relevant scientific literature. The second one was a primary research. The research was attended by 321 respondents. The questionnaire survey was evaluated by statistical methods. There were used Spearman rank correlation coefficient and Chi Square (?2) test. Various statistical tests have been used within the statistical analysis. The tests were performed by the statistical program. Various studies prove that there is a relationship between education and successful innovation. It was established that people with higher education are more creative in respect of new innovations. However, it is also important that the innovations are successful. According to the results of the research in this study it is possible to see a direct relationship between theoretical knowledge and successful innovation process.

DOI: 10.5901/mjss.2015.v6n6p325