Strategic decision for the external technological innovation acquisition mode selection by using an integration of AHP and GRA methods: A case study on a Thai new technology-based firm

The selection of the most appropriated external technological acquisition mode for a specific technological innovation is one of the important strategic decision-makings. To solve the complicated decision making problem, this study aims (i) to identify the multi-attribute criteria which influenced the selection of the external technological innovation acquisition mode and (ii) to illustrate the comprehensive proposed model by applying Multi-Criteria Decision Making (MCDM) approach, which was combined of Analytic hierarchy process (AHP) and Grey Relational Analysis (GRA) methods. The result can provide the prioritization of the relative important weight of criteria and the final ranking of alternative. This study is expected to effectively assist the managements or the decision-makers to choose the best appropriated alternatives which matched with their business objectives. A study case for the Thai technology-based firm was also applied in this article. KeywordsAnalytic hierarchy process, External technological innovation acquisition mode, Grey relational analysis, Multi-criteria decision-making method.

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