Based on research in the field of management, it is concluded that business organizations that successfully implement innovations achieve better results in the business market and gain an advantage over the competition. Given the growing dynamics and turbulence in the market, one of the ways in which a business organization can differentiate and achieve a competitive advantage is precisely the implementation of innovation. The fundamental division of innovation distinguishes between product innovation, production process and / or service delivery innovation, and managerial innovation. All types of innovations are desirable on the market, and it is especially important to implement all phases of the innovation process, ie innovation management. The innovation management process is very dynamic and complex and requires financial investment. Although the process itself is not easy to perform and is mostly challenging, its performance is expected before competitors. The subject of research relates to the analysis of innovation management. The aim of the research is to define the concept of innovation, to present the basic theoretical assumptions of innovation, and finally to analyze the process of innovation management.