A CM-BWM Approach to Determinants of Open Innovation in Small and Medium-Sized Enterprises

Silva, Joana R. B.; Ferreira, Fernando; Govindan, Kannan; Ferreira, Neuza C. M. Q. F.; Correia, Rui

doi:10.1109/tem.2022.3171591

Cited by 7 publications

(7 citation statements)

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“…The criteria's weights are also estimated because these condition the experts' definition of the best alternative. This comparative method has been found to offer better performance and consistency than other multicriteria methods (Celik & Gul, 2021;Mendes et al, 2022;Silva et al, 2022).…”

Section: Application and Resultsmentioning

confidence: 94%

“…The results are thus more reliable (Rezaei, 2015). According to Wang et al (2020), Mendes et al (2022) and Silva et al (2022), this method should be applied by a group of specialists in different related areas to provide further credibility to the results and ensure more precise solutions. Overall, the BWM provides advantages in evaluations of large real estate investments that can overcome some of the limitations of prior research.…”

Section: Vft and Cognitive Mappingmentioning

confidence: 99%

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A Multicriteria Evaluation System for Large Real Estate Investments

Soares

Ferreira

Teixeira

et al. 2022

International Journal of Strategic Property Management

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As an economic engine of contemporary societies, the real estate market needs to be carefully analyzed in terms of both urban management and private or public investment. Information on this market’s behavior can facilitate the identification of turning points in societies’ economic history. Analysts should focus not only on conditioning variables and other important determinants of relevance to investment evaluations but also on the impacts of each variable or factor. Measuring these effects is a key activity in decision-making processes. Given real estate’s growing importance to sustainable economic growth, this study concentrates on creating a multicriteria model for evaluating large real estate investments. A constructivist, process-oriented approach was applied in group work sessions held with a panel of experts with experience in dealing with this issue. These specialists structured the problem of evaluating large real estate investments using value-focused thinking (VFT) and cognitive mapping. The best-worst method (BWM) was then applied to calculate trade-offs among decision criteria and calibrate the evaluation system. The results were presented to and validated by a representative of Instituto da Habitação e da Reabilitação Urbana (Institute for Housing and Urban Rehabilitation), who identified the advantages and limitations of the proposed model, and suggested possible improvements.

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Section: Application and Resultsmentioning

confidence: 94%

Section: Vft and Cognitive Mappingmentioning

confidence: 99%

A Multicriteria Evaluation System for Large Real Estate Investments

Soares

Ferreira

Teixeira

et al. 2022

International Journal of Strategic Property Management

Self Cite

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“…The present study, therefore, sought to develop a comprehensive, transparent, informed, and flexible analysis system in order to produce a coherent ranking of urban residential neighborhoods based on their sustainability. To this end, the aforementioned constructivist posture was adopted based on a combination of cognitive mapping techniques and the BWM (Rezaei, 2015;Silva et al, 2022). Specifically, two major factors impacted on the decision on which methods to use.…”

Section: End Of Tablementioning

confidence: 99%

“…This method is considered to be an extremely efficient way to identify the best alternative and provide a clearer understanding, in advance, of the evaluation interval, which contributes to stronger pairwise comparisons and more reliable weights (Mohammadi & Rezaei, 2020;Rezaei, 2020). According to Mohammadi and Rezaei (2020), Mendes et al (2022) and Silva et al (2022), another of the BWM main advantages is that it only requires pairs of reference (i.e., 2n-3 pairwise comparisons) in contrast to other multi-criteria decision analysis and decision-making methods. In addition, the atypical structure of the BWM results is due to two vectors that include only integer numbers, which makes this method easier to use (Maghsoodi et al, 2020;Mohammadi & Rezaei, 2020;Silva et al, 2022).…”

Section: Ksimentioning

confidence: 99%

“…An efficient system for ranking residential neighborhoods based on their sustainability could thus help urban planners make strategic decisions and understand which areas need interventions more urgently or which should only be considered an investment opportunity. The present study uses cognitive mapping and the best-worst method (BWM) (Rezaei, 2015) to address this decision problem as the existing literature reports that these techniques have a high potential in terms of solving complex decision problems and resolving decision makers' conflicting positions (Silva et al, 2022). These two methodologies were chosen to facilitate the identification of a set of criteria that directly or indirectly influence the classification of residential areas with regard to sustainability, as well as clarifying the cause-and-effect relationships between criteria.…”

Section: Introductionmentioning

confidence: 99%

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Ranking Residential Neighborhoods Based on Their Sustainability: A Cm-BWM Approach

Andrade

Ferreira

Correia

2022

International Journal of Strategic Property Management

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Population growth and rapid urbanization have consequences that are reflected in the economic, environmental, and social stability of city-residential neighborhoods. These impacts directly affect not only residents but also real estate markets and local governments. The professionals working in the latter entities have become increasingly concerned about urban sustainability and its strategic integration into their plans. Strategies have been implemented that focus on both addressing negative aspects of residential neighborhoods and enhancing positive features that can contribute to the continuous improvement of locals’ living conditions. This study applies the multiple-criteria decision analysis approach and a combination of cognitive mapping and the best-worst method (BWM) to identify the most relevant criteria and use these to rank residential neighborhoods according to their sustainability. To apply the selected techniques, two group meetings were held with a panel of decision makers. The results were validated by the panel members and the Funchal City Council councilor for urbanism, who concurred that the proposed ranking system facilitates the identification of the most sustainable residential neighborhoods. The contributions and limitations of the methodological approach are also discussed.

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Value‐Focused Thinking and Interpretive Structural Modeling in the Development of Resilience‐Enhancing Initiatives in SMEs

Gonçalves,

Ferreira,

Milici

et al. 2024

Strategic Change

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Following the aftermath of the COVID‐19 pandemic, small and medium‐sized enterprises (SMEs) have faced growing challenges that underscore the critical need for enhanced organizational resilience. This study aims to bridge the gap in resilience research by offering a structured and practical decision‐support tool to enhance the resilience of SMEs. Adopting a multiple‐criteria decision analysis (MCDA) approach, combining value‐focused thinking (VFT), and interpretative structural modeling (ISM), the study identifies and prioritizes key initiatives and factors affecting SME resilience. Specifically, using a constructivist, process‐oriented methodology, we engaged an expert panel from diverse sectors, including technology, manufacturing, and services, to collaboratively develop a group cognitive map and an interpretive model that guide resilience‐building efforts. The findings highlight a hierarchy of resilience determinants, offering actionable insights for SME managers to structure and implement targeted resilience‐enhancing strategies. The originality of this study lies in its dynamic decision‐support approach, tailored specifically for SMEs, which is particularly relevant in today's volatile, post‐pandemic business environment. The results provide a significant contribution to the field by addressing critical gaps in SME resilience research and offering practical tools for organizational planning.

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A CM-BWM Approach to Determinants of Open Innovation in Small and Medium-Sized Enterprises

Cited by 7 publications

References 57 publications

A Multicriteria Evaluation System for Large Real Estate Investments

A Multicriteria Evaluation System for Large Real Estate Investments

Ranking Residential Neighborhoods Based on Their Sustainability: A Cm-BWM Approach

Value‐Focused Thinking and Interpretive Structural Modeling in the Development of Resilience‐Enhancing Initiatives in SMEs

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