Every day brings changes that influence on the whole process of development in society. As a result, there are many challenges for business in this turbulent time. Factors like: sustainability, government influence, cooperation, eco-friendly products and others define new ways of doing business. I provide understanding of innovation based on leadership view. This dimension is significant important for todays’ organizations in order to be on the market and to have success. Leaders have to know possibilities based on many internal and external factors that can be seen as opportunities for organization. Innovation is an essential part that should be taken into consideration by leaders. Innovation without leadership has less value or even can lose this value at all. The main components of innovation investigated by a big variety of interviews and dialogues with experts in the field of innovation, based on appropriate literature sources and represented in this paper.