One of the problems we face in the transition from an industrial society to a global knowledge economy is the need for a new breed of leaders and a new understanding of leadership. Creativity in organizations is traditionally considered to be the domain of the R&D department, and design and marketing functions. The consequences of this way of thinking are that creativity, innovation and the implementation of innovation have not been a part of everyday life throughout an organization, but rather things that are the responsibility of a few people often located in departments far away from the "front line." It is the front line that is in daily contact with users / customers, and which, in the knowledge society, will become increasingly important. The questions we discuss are: How can we develop a new type of leadership in the knowledge economy? What are the necessary and sufficient conditions for the entrepreneurship? What should the West do in order to compete in the global knowledge economy? How can innovation be developed in organizations? What is needed to develop high-tech value creation? How can an organization increase its level of innovation? Under what conditions can established organizations foster innovation?