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Multicriteria Decision Analysis to Develop Effective Sustainable Development Strategies for Enhancing Competitive Advantages: Case of the TFT-LCD Industry in Taiwan

Author

Listed:
  • Iuan-Yuan Lu

    (Department of Business Management, National Sun Yat-sen University, 70, Lien-Hai Rd., Kaohsiung City 80424, Taiwan)

  • Tsuanq Kuo

    (Department of Business Management, National Sun Yat-sen University, 70, Lien-Hai Rd., Kaohsiung City 80424, Taiwan)

  • Ting-Syuan Lin

    (Department of Business Management, National Sun Yat-sen University, 70, Lien-Hai Rd., Kaohsiung City 80424, Taiwan)

  • Gwo-Hshiung Tzeng

    (Institute of Management of Technology, National Chiao Tung University, Hsinchu 30010, Taiwan
    Graduate Institute of Urban Planning, College of Public Affairs, National Taipei University, 151, University Rd., San Shia District, New Taipei City 23741, Taiwan)

  • Shan-Lin Huang

    (Graduate Institute of Urban Planning, College of Public Affairs, National Taipei University, 151, University Rd., San Shia District, New Taipei City 23741, Taiwan
    Zhongshan Institute, University of Electronic Science and Technology of China, Zhongshan 528402, China)

Abstract

In the Internet of Things era, panel displays play a major role in human life, because humans frequently use liquid crystal displays to monitor their electrical devices. The display industry creates remarkable economic output, but every manufacturing process inevitably has some undesirable effects on the environment. With the increasing awareness of environmental protection, balanced development is necessary to address the emerging market trends. However, short-sighted manufacturing corporations that focus solely on financial performance can achieve only short-term profits. The purpose of this study was to develop the most effective sustainable improvement strategies that can enhance competitive advantages in real-world situations. The proposed method combines the balanced scorecard and a new hybrid modified multiple attribute decision-making model which together adopt the DEMATEL technique to construct the influential network relation map and develop the DEMATEL-based ANP with the VIKOR method to deliver strategies that integrate environmental sustainability and competitive advantage. Finally, a real-world case study applying the proposed method to the cases of liquid crystal display manufacturers was conducted. Then, this paper discusses the effective use of natural resources, development of enterprises, and sustainable competitive advantage in this context. Various manufacturers, communities, and stakeholders can benefit from the coopetition solutions explained by the proposed method.

Suggested Citation

  • Iuan-Yuan Lu & Tsuanq Kuo & Ting-Syuan Lin & Gwo-Hshiung Tzeng & Shan-Lin Huang, 2016. "Multicriteria Decision Analysis to Develop Effective Sustainable Development Strategies for Enhancing Competitive Advantages: Case of the TFT-LCD Industry in Taiwan," Sustainability, MDPI, vol. 8(7), pages 1-31, July.
    • Handle: RePEc:gam:jsusta:v:8:y:2016:i:7:p:646-:d:73657
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    References listed on IDEAS

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    7. Guang-Bin Qu & Tian-Yu Zhao & Bo-Wei Zhu & Gwo-Hshiung Tzeng & Shan-Lin Huang, 2019. "Use of a Modified DANP-mV Model to Improve Quality of Life in Rural Residents: The Empirical Case of Xingshisi Village, China," IJERPH, MDPI, vol. 16(1), pages 1-22, January.
    8. Shu-Kung Hu & James J. H. Liou & Ming-Tsang Lu & Yen-Ching Chuang & Gwo-Hshiung Tzeng, 2018. "Improving NFC Technology Promotion for Creating the Sustainable Education Environment by Using a Hybrid Modified MADM Model," Sustainability, MDPI, vol. 10(5), pages 1-24, April.
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    10. Beata Zyznarska-Dworczak, 2018. "The Development Perspectives of Sustainable Management Accounting in Central and Eastern European Countries," Sustainability, MDPI, vol. 10(5), pages 1-21, May.
    11. Ming-Ching Hsu, 2023. "The Construction of Critical Factors for Successfully Introducing Chatbots into Mental Health Services in the Army: Using a Hybrid MCDM Approach," Sustainability, MDPI, vol. 15(10), pages 1-22, May.
    12. Chui-Hua Liu, 2020. "Strategies of Managing Coach Driver Job Stress for Sustainable Coach Tourism Industry—The Use of DANP-V Model," Sustainability, MDPI, vol. 12(9), pages 1-20, May.
    13. Vicent Penadés-Plà & Tatiana García-Segura & José V. Martí & Víctor Yepes, 2016. "A Review of Multi-Criteria Decision-Making Methods Applied to the Sustainable Bridge Design," Sustainability, MDPI, vol. 8(12), pages 1-21, December.
    14. Ying-Che Hsieh & Kuo-Yi Lin & Chao Lu & Ke Rong, 2017. "Governing a Sustainable Business Ecosystem in Taiwan’s Circular Economy: The Story of Spring Pool Glass," Sustainability, MDPI, vol. 9(6), pages 1-15, June.
    15. Chi-Yo Huang & Pei-Han Chung & Joseph Z. Shyu & Yao-Hua Ho & Chao-Hsin Wu & Ming-Che Lee & Ming-Jenn Wu, 2018. "Evaluation and Selection of Materials for Particulate Matter MEMS Sensors by Using Hybrid MCDM Methods," Sustainability, MDPI, vol. 10(10), pages 1-35, September.
    16. Srđan Dimić & Dragan Pamučar & Srđan Ljubojević & Boban Đorović, 2016. "Strategic Transport Management Models—The Case Study of an Oil Industry," Sustainability, MDPI, vol. 8(9), pages 1-27, September.
    17. Pei-Jian Lin & Yih-Chearng Shiue & Gwo-Hshiung Tzeng & Shan-Lin Huang, 2019. "Developing a Sustainable Long-Term Ageing Health Care System Using the DANP-mV Model: Empirical Case of Taiwan," IJERPH, MDPI, vol. 16(8), pages 1-33, April.
    18. Amy H. I. Lee & He-Yau Kang & You-Jyun Liou, 2017. "A Hybrid Multiple-Criteria Decision-Making Approach for Photovoltaic Solar Plant Location Selection," Sustainability, MDPI, vol. 9(2), pages 1-21, January.
    19. Ana Rodríguez-Olalla & Carmen Avilés-Palacios, 2017. "Integrating Sustainability in Organisations: An Activity-Based Sustainability Model," Sustainability, MDPI, vol. 9(6), pages 1-17, June.
    20. Sohail Ahmad Javeed & Boon Heng Teh & Tze San Ong & Lee Lee Chong & Mohd Fairuz Bin Abd Rahim & Rashid Latief, 2022. "How Does Green Innovation Strategy Influence Corporate Financing? Corporate Social Responsibility and Gender Diversity Play a Moderating Role," IJERPH, MDPI, vol. 19(14), pages 1-22, July.
    21. Moraga, Javier A. & Quezada, Luis E. & Palominos, Pedro I. & Oddershede, Astrid M. & Silva, Hernán A., 2020. "A quantitative methodology to enhance a strategy map," International Journal of Production Economics, Elsevier, vol. 219(C), pages 43-53.

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