A CM-BWM Approach to Determinants of Open Innovation in Small and Medium-Sized Enterprises

Open innovation has gradually gained greater importance over time as commitment to a culture of constant innovation has become increasingly indispensable for organizations' long-term survival. This trend has made understanding the factors that affect innovation capacity and success imperative....

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Bibliographic Details
Published inIEEE transactions on engineering management Vol. 71; pp. 2561 - 2578
Main Authors Silva, Joana R. B., Ferreira, Fernando A. F., Govindan, Kannan, Ferreira, Neuza C. M. Q. F., Correia, Ricardo J. C.
Format Journal Article
LanguageEnglish
Published New York IEEE 2024
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subjects
Best worst method (BWM)
Business
cognitive mapping
Companies
Costs
Criteria
Decision analysis
Decision making
decision-making support
Innovations
Investment
JOURNEY making
multiple criteria decision analysis (MCDA)
open innovation
Research and development
Small & medium sized enterprises-SME
small and medium-sized enterprise (SME)
Small business
Technological innovation
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Summary:Open innovation has gradually gained greater importance over time as commitment to a culture of constant innovation has become increasingly indispensable for organizations' long-term survival. This trend has made understanding the factors that affect innovation capacity and success imperative. Given the wide range of determinants already identified, researchers seeking to analyze these factors face difficult, extremely complex challenges in terms of determining their effects on small and medium-sized enterprises (SMEs). The existing literature mentions limitations arising from how criteria have been selected for evaluation systems and how these determinants' relative weights have been defined. This article develops an analysis system that combines cognitive mapping-based on the jointly understanding, reflecting, and negotiating strategy making approach-and the best-worst method. The two main aims are to identify the most significant criteria for evaluations of SME propensity to engage in open innovation and to calculate these factors' relative weights. This article focuses on promoting realistic, comprehensive analyses that foster clearer and more conscious decision making based on a holistic view of open innovation assessment.
ISSN:0018-9391
1558-0040
DOI:10.1109/TEM.2022.3171591