Innovation allows companies to obtain and maintain competitive advantage. Companies—even in the same sector of activities—often have various ways to reach this goal. The paper gives an insight to the most recent trends concerning the theory of innovations, presents four different innovative approaches, and illustrates them with the help of the selected Polish textile companies. Those companies are only a few selected from many that belong to this sector, which are innovative not only at the national, but also at the international level. The authors decided to present examples from this sector because there is a belief that it is one of the declining sectors of the Polish economy, while the presented examples clearly show that it includes companies that are innovative and can compete even on global markets.

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