Fulfilment of the Innovation Potential of Large Businesses: Identifying the Critical Factors

Innovation is positively recognized as a source of wellbeing, economic growth and long-term success of a firm. It is not question, whether, but how to innovate especially in the terms of globalization, Industry 4.0 and new trends in the environment. Different factors have impact on the corporate innovation activities. Innovation capacities are driven within the company by various aspects, such as management approach, knowledge, creativity or leadership. External factors, different innovation policies of countries, market forces, environmental changes or technological capability, play also an indisputable role. The source of innovation usually lies on the interface between the firm and its environment. Large firms are the main leaders in the innovation process based on the latest data. Specialised departments, which focus mainly on innovation, can be found in majority of them. Large firms have the advantage of various skills and specialised knowledge obtained due to their wide range of activities and human capital. The possibility of progress in employee career when their proposal is accepted or diversity of impulses to innovate gained by operation in globalized environment can have positive impact. On the other hand, large firms are not very flexible compared to small and medium- sized firms, but they have superior financial resources to invest as a result of their size. Based on the research, factors, which lead to the fulfilment of innovation potential in the large firms are discussed and evaluated in a case study.