Understanding Innovation for Sustainable Business Management Capabilities and Competencies under Uncertainty

Kuo-Jui Wu, Ching-Jong Liao, Ming-Lang Tseng and Pei-Jay Chou
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Kuo-Jui Wu: Department of Industrial Management, National Taiwan University of Science and Technology, Taipei 10607, Taiwan
Ching-Jong Liao: Department of Industrial Management, National Taiwan University of Science and Technology, Taipei 10607, Taiwan
Ming-Lang Tseng: Department of Business Administration, Lunghwa University of Science and Technology, No. 300, Sec. 1, Wanshou Road, Taoyuan County 33306, Taiwan
Pei-Jay Chou: Department of Business Administration, Lunghwa University of Science and Technology, No. 300, Sec. 1, Wanshou Road, Taoyuan County 33306, Taiwan

Sustainability, 2015, vol. 7, issue 10, 1-35

Abstract: In recent years, many firms have come to understand that innovation is an important issue in sustainable business management, as it helps improve firm capabilities and competencies. Because of the fiercely competitive environment in the hotel industry, innovation has become a critical factor in the process of hotel differentiation, leading to sustainable business success. However, the literature has not thoroughly examined the role of innovation or the hierarchical structure of the capabilities and competencies in sustainable business management. This study adopts interval-valued triangular fuzzy numbers and grey relational analysis to provide a competitive priority ranking for the aspects and criteria that assist firms in decision-making. The study results indicate that innovation in technology capabilities and networking and social capabilities—in addition to competencies in systemic thinking—are the most important aspects of sustainable business management. In particular, this study indicates that to succeed in building a sustainable business in the hotel industry, firms should upgrade and integrate their business technologies, collaborate with actors inside and outside the firm, build trust as well as a shared vision that includes common agreement, and develop competencies in inventive thinking to support innovation and foster changes in strategy, structure, administrative procedures, and systems when necessary.

Keywords: sustainable business management; innovation; capabilities and competences; interval-valued triangular fuzzy numbers; grey relational analysis (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (23)

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