MODEL FOR ASSESSING THE INNOVATION OF TEXTILE COMPANIES
MODEL FOR ASSESSING THE INNOVATION OF TEXTILE COMPANIES

Summary/Abstract: Background: Organizations that adapt effectively thrive, with innovation driving adaptability and growth. As a key economic driver, innovation requires continuous management. Despite challenges in quantification, academic literature emphasizes assessing innovation capabilities through various models.Purpose: This study develops and evaluates a model to assess the innovativeness of textile companies in Prilep using multi-criteria analysis. Key indicators include the rate of innovation, innovation ratio, expenditure coefficient, patents, and employee involvement.Methodology: The model provides a structured assessment of innovation, serving as a management tool for modern businesses.Findings: Innovation is crucial for sustainable growth and competitiveness. Companies investing in innovative products, services, and processes adapt better to market shifts and enhance long-term value. A strong innovation culture fosters leadership in dynamic industries while neglecting innovation leads to stagnation.Limitations/Future Research: The model is specific to Prilep’s textile industry, requiring adaptation for broader applications. Certain indicators may overestimate innovativeness for new businesses. Temporal assessments might not account for external disruptions like inflation or COVID-19. The lack of universal innovation measurement standards complicates comparisons. This study lays the groundwork for refining innovation assessment methodologies.

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