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A Hybrid Fuzzy MCDM Approach to Open Innovation Partner Evaluation

Author

Listed:
  • Sanja Puzović

    (Faculty of Technical Sciences Čačak, University of Kragujevac, 32000 Čačak, Serbia)

  • Jasmina Vesić Vasović

    (Faculty of Technical Sciences Čačak, University of Kragujevac, 32000 Čačak, Serbia)

  • Dragan D. Milanović

    (Faculty of Mechanical Engineering, University of Belgrade, 11000 Belgrade, Serbia)

  • Vladan Paunović

    (Faculty of Technical Sciences Čačak, University of Kragujevac, 32000 Čačak, Serbia)

Abstract

Even though interest in open innovation (OI) both as a research field and as an industrial practice for creating competitively advantageous innovation through collaboration has grown exponentially over the last decades, the issue of how to transform OI strategy into a sustainable competitive advantage is still an open research question. Selecting partners capable of operationally and strategically contributing to the OI project goals is a strategic decision for companies striving to effectively implement the OI concept. The study is aimed at defining a structured and methodology-supported decision-making process for OI partner selection based on a novel hybrid Multi-Criteria Decision-Making (MCDM) model which is enhanced by interval type-2 fuzzy sets (IT2F) to deal with the inherent uncertainty. The model combines IT2F Delphi (IT2FD), IT2F Analytical Hierarchy Process (IT2F AHP), and IT2F Preference Ranking Organization METHod for Enrichment of Evaluations (IT2F PROMETHEE). The study provides a comprehensive framework of the OI partner performance indicators; additionally, it provides a contingent approach to identifying evaluation criteria depending on the nature of the company’s innovation processes, contextual conditions, and innovation strategy. The case study is used to verify the feasibility and effectiveness of the proposed process. The study’s results highlight the significance of specific factors related to the partners’ technological competencies.

Suggested Citation

  • Sanja Puzović & Jasmina Vesić Vasović & Dragan D. Milanović & Vladan Paunović, 2023. "A Hybrid Fuzzy MCDM Approach to Open Innovation Partner Evaluation," Mathematics, MDPI, vol. 11(14), pages 1-26, July.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:14:p:3168-:d:1197431
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    More about this item

    Keywords

    open innovation projects; MCDM; IT2FD; IT2F AHP; IT2F PROMETHEE;
    All these keywords.

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