Management of agriculture innovations: Role in Economic Development.

Abstract

Agriculture has a significant economic position in each country, either historically or in terms of importance. Without the products of agriculture, there could be no life. That's the reason to analyze this industry. This industry is now, in the current global world, affected by new trends and new competition on the market. New management, innovations, and other challenges that occurred in this sector. It must face new threats. Especially, significant changes in the global world environment significantly affect this sector. Firstly, through the volume of crop production, respectively non-production due to significant climate changes. Secondly, due to stricter market conditions and its current regulation. Changes in these areas have a significant impact not only on the development in the agricultural sector itself but also on the development of the economy as a whole. Today, competitiveness plays a significant role in the world, as well as in agriculture. This paper summarizes the findings from the area of agriculture, nowadays trends in this sector, innovations. It analyses the competitiveness in this sector, which is characterized by its specific features. Then it summarizes the findings and main thesis about Common Agricultural Policy and its instruments. Another part of this article is dedicated to a very important topic - innovation in agriculture. Agricultural innovation is seen as a co-evolutionary process because it combined technological, social, economic, and institutional changes. The main aim of the article is to identify the impact of agriculture on the economic development of the Slovak Republic economy and to show the possibilities for innovation implementing into this sector. The selected indicators will analyze the description of the position of this sector in the past and today. The typical indicators for the agricultural sector were set. Methodological tools of the research methods were analyzing statistical methods as a regression model, and p-value. Through a regression model, we would like to know what is the dependence of crop and livestock productions on the GDP of agriculture. Finally, improvements to the current state will be suggested. To gain the representative data, more than 20 years of research were set. The object of research is the Slovak republic. The position of agriculture within this country was identified. The article shows the results of verification of dependencies between indicators in the agricultural sector, which showed that statistical significance is assumed, which of course is confirmed both in crop and livestock production. The systematization of domestic and foreign scientific studies and approaches to answering problems in the management of agricultural innovations and the low share of agriculture on GDP makes it possible to create suggestions for the innovative solutions in agriculture in Slovakia. Keywords: agriculture, management, innovation, crop production, livestock production, Slovak Republic.