Application of fuzzy analytical network process for the selection of best technological innovation strategy in steel manufacturing SMEs

K.R. Kiron and K. Kannan

International Journal of Services and Operations Management, 2018, vol. 31, issue 3, 325-348

Abstract: The success of small and medium enterprises (SMEs) depends mainly on its ability to innovate. Earlier studies revealed that among various types of innovation, technological innovation is the most important. Selection of the best alternative for improving technological innovation thus gains vital importance and it is a multi-criterion decision-making (MCDM) problem. A model was developed for steel manufacturing SMEs to improve their technological innovation capability. The model employed fuzzy analytical network process (FANP) for the selection of the strategy for improving the technological innovation capability. The idea of applying FANP for the selection of best alternative to make an SME innovative is novel. By the developed model, studies were conducted in three small scale steel manufacturing enterprise. Among the four strategies, it was found that the best strategy for all the three organisations is the cooperation approach. Cooperation with other similar enterprises, cooperation with research and other technological institutions is found to be important for the SME. The result of the study is having utmost importance in framing the strategies for SMEs. It helps the decision makers of SMEs to create an organisational culture which can foster technological innovation.

Keywords: innovation; innovation strategy; SME; analytical network process; FANP; steel manufacturing SME. (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=95560 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijsoma:v:31:y:2018:i:3:p:325-348

Access Statistics for this article

More articles in International Journal of Services and Operations Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().