AHP-SWOT analysis of strengths, weaknesses, opportunities, and threats of implementing green innovation

Abstract

Green innovation means applyinginnovation to achieve sustainable and environmentally friendly development goals. Green innovation is a new concept in many developing countries. This research analyzes the strengths, weaknesses, opportunities, and threats (SWOT) when implementing green innovations in Vietnam.We interviewed 58 experts and entrepreneurs who have experience with green innovations by Vietnamese firms. The data were analyzed using thehybrid SWOT-AHP method. Eigenvectors were calculated for local factor priority (within each factor) and global factor priority (for all factors).Results show that external factors are predominant in fostering the implementation of green innovation. The potential benefit that green innovation generates is its strength. However, the belief that innovationischallenging to apply hinders the effort. The developing innovation ecosystem provides a new positive signal, but the current unstable economic environment is a significant negative external factor. This study sheds light on policy approaches for promoting green innovation.Remarkably, the SWOT-AHP analysis provides thestrategic approach for potential measures to prioritize the limited resources available in developing countries. Finally, this research provides input for future quantitative research.