INNOVATION AND COMPETITIVENESS IN THE GLOBAL LEVEL
The issue of competitiveness is key to the quality of any economic system. That means the answer to the question, how many rational use of available scarce resources and at the same time raising the level of customer satisfaction of products or services. If we turn to the issue of competitiveness mesoeconomics system at the macro level, we will see how this complex issue. The competitiveness of the economy at the global level is directly dependent on that, how much the economies of individual countries are ready and trained to be leaders in the design and implementation of certain innovations. Clearly, the business based on innovation and knowledge plays a key role in stimulating prosperity and creating or maintaining competitive advantage. Any investment in an idea carries some risk but also significant opportunities, above all, the ability to achieve the first position on both the domestic and world market. We are witnessing a constant redistribution of economic power on a global level. Many countries ignore the fact that it is much harder to maintain the leading position than to reach it. Companies that are serious about the importance of their position and the speed at which this position can be changed should compete in innovative thinking and business. This means that they must try to achieve growth and attract economic activities with the highest possible rate of added value. Businesses and even the whole, until recently a leading, world economies that have neglected this fact, lose their positions and competitive place. Competitive position and innovation ability of the company and specific countries can be determined thanks to numerous criteria. In this paper we handle several criteria which are relevant for determining the level of competitiveness and innovation capacity of individual countries and within that we will look at the position of Bosnia and Herzegovina.