ENTERPRISE INNOVATION AS A FACTOR OF ECONOMIC GROWTH On the example of the Visegrad Group countries

Innovation, perceived as an inherent feature of the modern economy, is one of the most important factors determining economic growth. Apart from that, innovation is also of key importance in creating the competitiveness of enterprises as well as countries and regions. It is believed that achieving a sustainable competitive advantage would not be possible without investments supporting the implementation of innovative solutions. It is quite the opposite – the innovativeness of enterprises and economies is a guarantee of economic development and improvement of the quality of life, counteracting social exclusion.