Abstract
Since the rise of strategic alliances which play such an important role in industry today, the biopharmaceutical industry worldwide has entered an era of rapid change and collaborative thinking. The strategic alliance is one of the most important strategies for the green biopharmaceutical industry. Member organizations in these alliances work together to create more advantageous biotechnologies based on environmental protection to achieve mutual benefits. In the past, there have been only a few studies discussing partner evaluations and the selection process for the green biopharmaceutical industry, so the criteria or indicators are still not complete. Therefore, this study proposes a novel multi-criteria decision-making (MCDM) framework for strategic alliance partner evaluation that combines the best-worst method (BWM) and the fuzzy TOPSIS technique based on the concept of aspiration level (called fuzzy TOPSIS-AL) to evaluate the performance and priority rankings of strategic alliance partners. The BWM overcomes the shortcomings of small sample sizes and streamlines the number of conventional pairwise comparisons needed. The fuzzy TOPSIS-AL technique introduces the concept of the aspiration level, thereby leading to more reasonable suggestions for improvement. In addition, data from a multinational green biopharmaceutical company survey are utilized to demonstrate the validity and applicability of the proposed model.
Highlights
Extreme changes in climate and frequent natural disasters have forced governments to pay more attention to environmental protection and have enacted many environmental protection regulations and penalties
It is especially advantageous for biopharmaceutical companies to form strategic alliances with other companies upstream and downstream the supply chain to enhance competitiveness, including shortening product development time, reducing development costs and risks, and increasing product diversity
This paper proposes a strategic alliance partner evaluation framework for the green biotechnology industry, using a hybrid multi-criteria decision-making (MCDM) approach to evaluate partners’ performance
Summary
Extreme changes in climate and frequent natural disasters have forced governments to pay more attention to environmental protection and have enacted many environmental protection regulations and penalties. Because of the requirements of advanced technology, high investment, and long-term R&D cycles, the pharmaceuticals industry is classified as a high-risk industry [7] It is especially advantageous for biopharmaceutical companies to form strategic alliances with other companies upstream and downstream the supply chain to enhance competitiveness, including shortening product development time, reducing development costs and risks, and increasing product diversity. There is still no research to establish a complete strategic alliance partner evaluation framework for the green biopharmaceutical industry. This paper proposes a strategic alliance partner evaluation framework for the green biotechnology industry, using a hybrid MCDM approach to evaluate partners’ performance.
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