Innovation Capacities as the Key to Survival – A Case Study in Serbia

Abstract

The innovation of companies is of vital importance because it allows them to penetrate markets and provides better connections with emerging markets, which can lead to greater opportunities. Measuring innovation is an important activity both for theoretical and practical tests. This paper presents research on the innovation capacities of small and medium enterprises in Serbia according to the model consisting of 21 dimensions. The observed sample consists of 106 companies, of different sizes, whose activities are grouped into production and service activities. Similarities and differences in the innovative capacities of companies concerning their activity and in relation to their size were analyzed. The results of the research indicate the main problems that small and medium-sized enterprises are facing in order to improve their innovative capacities such as the market horizon, inadequate management systems, short-term planning, and insufficient connectivity with partners and academia.

The Sustainability Analysis of Women-owned Businesses Examined Through the Impact of Selected Variables on Dimensions of Innovation Capacity

“…Indeed, if a company is highly competitive in the market, it is very likely to have a well-developed innovation management system with standards that are largely aligned with European standards. The previous research results have shown that, when it comes to innovation capacity, there are differences between Serbian companies (Vučetić & Kirin, 2022). Various methodologies exist for assessing companies' innovation capacities, and for the purpose of researching the interdependence between sustainability in women-owned small and medium enterprises in Serbia and innovation, a questionnaire was constructed based on a combination of two commonly applied methodologies for assessing innovation potential: the IMP³rove methodology and the Innovate methodology.…”