A Novel Hybrid Approach for Technology Selection in the Information Technology Industry

Abstract

High-tech companies are rapidly growing in the world. Research and development (hereafter R&D) department strength is the main asset that allows a firm to achieve a competitive advantage in high-tech businesses. The allocated budget to this sector is finite; thus, integration, human resource, risk and budget limitations should be considered to choose the most valuable project in the best portion of time. This paper investigates a case study from a high-tech company in Iran to prioritize the most attractive technologies for the R&D department. The case consists of twenty three technology options and the goal is to find the most attractive projects to sort them out for implementation in the R&D department. In this research, scholars proposed the best-worst method (henceforth BWM) to find the weight of the criteria of the attractive technologies in first step and utilize the newly developed method total area based on orthogonal vectors (henceforward TAOV) to sort the selected technologies based upon the identified criteria. Project integration is one of the least-noticed subjects in scientific papers; therefore, the researchers presented a zero or one linear programming (ZOLP) model to optimize and schedule the implementation procedure on the project risk, budget and time limitation simultaneously. The results indicate that starting few but attractive projects in the first years and postponing the rest to the future, helps a firm to manage funds and gain profit with the least amount of risk.

Investigating the impact of networking capability on firm innovation performance: using the resource-action-performance framework

“…Network collaborations eventuate a broader knowledge base of the firm resulting in better performance. By building a common understanding of the benefits among network members, networking reduces the risk of intra-network competition, provides a specific system for protecting intellectual property, and avoids opportunistic behaviors (Pittaway et al, 2004;Mokhtarzadeh et al, 2018). Networking leads to solving network problems collaboratively to speed up their exposure.…”

Evaluating strategies for implementing industry 4.0: a hybrid expert oriented approach of BWM and interval valued intuitionistic fuzzy TODIM

“…By employing a linear and non-linear mathematical model, the optimal values of each criterion are calculated (Rezaei, 2015). This method is used in a variety of contexts such as humanitarian supply chain (Sahebi et al, 2017), medical tourism management (Abadi et al, 2018), education management (Nafari et al, 2017), technology selection (Mokhtarzadeh et al, 2018), marketing (Mahdiraji et al, 2019) and facility location (Kheybari et al, 2019). The well-known non-linear version of this model is described as follows (Rezaei, 2015):…”

A Hybrid Fuzzy BWM-COPRAS Method for Analyzing Key Factors of Sustainable Architecture

“…In addition, a supplier selection life cycle approach integrating traditional and environmental criteria by using BWM, was presented by Rezaei et al [50]. Eventually, Mokhtarzadeh et al, presented a hybrid model including BWM to analyze the technology portfolio selection problem [51]. In this part, the steps of BWM for deriving the weights of the criteria are described [45].…”