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Sustainability 2015, 7(10), 13726-13760; doi:10.3390/su71013726

Understanding Innovation for Sustainable Business Management Capabilities and Competencies under Uncertainty

1
Department of Industrial Management, National Taiwan University of Science and Technology, Taipei 10607, Taiwan
2
Department of Business Administration, Lunghwa University of Science and Technology, No. 300, Sec. 1, Wanshou Road, Taoyuan County 33306, Taiwan
*
Author to whom correspondence should be addressed.
Academic Editor: Kannan Govindan
Received: 7 July 2015 / Revised: 25 September 2015 / Accepted: 8 October 2015 / Published: 12 October 2015
(This article belongs to the Special Issue How Better Decision-Making Helps to Improve Sustainability)
View Full-Text   |   Download PDF [845 KB, uploaded 12 October 2015]   |  

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. View Full-Text
Keywords: sustainable business management; innovation; capabilities and competences; interval-valued triangular fuzzy numbers; grey relational analysis sustainable business management; innovation; capabilities and competences; interval-valued triangular fuzzy numbers; grey relational analysis
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

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MDPI and ACS Style

Wu, K.-J.; Liao, C.-J.; Tseng, M.-L.; Chou, P.-J. Understanding Innovation for Sustainable Business Management Capabilities and Competencies under Uncertainty. Sustainability 2015, 7, 13726-13760.

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