Identifying critical drivers of innovation in pharmaceutical industry using TOPSIS method

Insights in understanding critical growth drivers of innovation are essential for industrial development and economic growth for competitive advantage. This study identifies indicators from the world's major indexes and industry-level concerns. The indicators are mapped to these concerns using expert opinions and then treated mathematically using technique of order preference by similarity to an ideal solution (TOPSIS). This mapping ranks and identifies the most favorable indicators for several concerns. It, thus, identifies the critical role the indicators play for the drivers to the most effective advantage using the TOPSIS method as a comprehensive ranking of indicators effectively facilitates decision-making for estimated levels. The method highlights are as follows: • The most prevailing indicators for innovation are considered from the major innovation indexes for industries for mapping with concerns within the industry. • Industry-specific concerns for the pharmaceutical industry are selected for the study. • The mapping of indicators to concerns using expert opinion and using the TOPSIS method generated a matrix of the ranked indicators, aids in prioritizing resources and existing knowledge to resolve the concerns.