Next Article in Journal
Capturing Dynamics in Business Model Frameworks
Next Article in Special Issue
How Resources of Universities influence Industry Cooperation
Previous Article in Journal
Open Principles in New Business Models for Information Systems
Previous Article in Special Issue
Carbon Sequestration in the Urban Areas of Seoul with Climate Change: Implication for Open Innovation in Environmental Industry
Article

Targeting Open Market with Strategic Business Innovations: A Case Study of Growth Dynamics in Essential Oil and Aromatherapy Industry

1
Institute of International Business Administration, Chinese Culture University, Taipei 111, Taiwan
2
Institute of Global Business, Chinese Culture University, Taipei 111, Taiwan
3
Department of International Trade, Chinese Culture University, Taipei 111, Taiwan
*
Author to whom correspondence should be addressed.
J. Open Innov. Technol. Mark. Complex. 2019, 5(1), 7; https://doi.org/10.3390/joitmc5010007
Received: 18 June 2018 / Revised: 30 January 2019 / Accepted: 31 January 2019 / Published: 5 February 2019
Essential oil and aromatherapy industry is increasingly gaining prominence in the global market. Previous studies have been carried out on the benefits of essential oils in healthcare and as part of the healing arts of many cultures, as a proven method of caring for our physical, spiritual and mental health. To enter an open market and promote the awareness of essential oils and aromatherapy, strategic planning capability is important to drive business growth. This paper utilizes a simulation-based strategic decision support system (SSDSS) to conduct a real-world case study with empirical data and examine the effectiveness of SSDSS applications in supporting market development and business growth with service innovations. Through iterative computer simulations and scenario analysis of healthcare promotion and business development for performance improvement, the effects of strategic business innovations could be systematically analyzed to identify different stages of adopters and effective approaches to achieve the established objectives with market value creation. View Full-Text
Keywords: Business Model; Strategy; Decision Support; Entrepreneurship; Business Growth Business Model; Strategy; Decision Support; Entrepreneurship; Business Growth
Show Figures

Figure 1

MDPI and ACS Style

Yan, M.-R.; Wang, C.-H.; Cruz Flores, N.J.; Su, Y.-Y. Targeting Open Market with Strategic Business Innovations: A Case Study of Growth Dynamics in Essential Oil and Aromatherapy Industry. J. Open Innov. Technol. Mark. Complex. 2019, 5, 7. https://doi.org/10.3390/joitmc5010007

AMA Style

Yan M-R, Wang C-H, Cruz Flores NJ, Su Y-Y. Targeting Open Market with Strategic Business Innovations: A Case Study of Growth Dynamics in Essential Oil and Aromatherapy Industry. Journal of Open Innovation: Technology, Market, and Complexity. 2019; 5(1):7. https://doi.org/10.3390/joitmc5010007

Chicago/Turabian Style

Yan, Min-Ren, Chun-Han Wang, Nelson Jose Cruz Flores, and Ying-Yueh Su. 2019. "Targeting Open Market with Strategic Business Innovations: A Case Study of Growth Dynamics in Essential Oil and Aromatherapy Industry" Journal of Open Innovation: Technology, Market, and Complexity 5, no. 1: 7. https://doi.org/10.3390/joitmc5010007

Find Other Styles
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop