Innovation is an important factor in the competitiveness of the country or the company. The importance of innovation in any country and the company has been further strengthened with the process of globalization, but also with shortening product life cycle, and somewhat faster changes to consumer demands. In the world there is the same view of the importance of innovation, or what professional literature shows that innovations have quite a great reflection on the effective growth and development of SMEs. Innovation is a process wherein the transformation of these ideas or the way that they are beginning to apply in practice. What they all need to be aware of the company is that innovation never seen as an event that is separate but it is a whole range of activities that make up the procedure for the execution of the process needs to be well managed. Companies can apply product innovation, then innovation processes and organization - management innovations. Regardless of the type of innovation is applied it must be the key to growth and development of enterprises, but also be the force that will drive the economy of any country in the world. The implementation of innovation in enterprises has a specific procedure that must be implemented in order to finally come to the realization, or the placing on the market. At the present time, which is often called the knowledge economy gives great importance to customers because they want to satisfy their needs and to achieve this we take care about innovation, resources and competencies. Innovation management consists of three phases, namely, assessment of the current situation, followed by the definition of a future state, and the last implementation.