ahp enterprise performance

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Constructing an Entrepreneurial Appraisal Model Based on the

Essential Resources the Case of the Plastic Product Industry

Rong-Hwa Huang*, Chang-Lin Yang**, Ching-Wen Chang *

*Graduate Institute of management, ** Department of Business Administration

Fu Jen Catholic University

No.510, Chung-Cheng Rd., Hsinchuang City, Taipei Hsien 24205 Taiwan

[email protected]

ABSTRACT

New enterprise is important not only to enterprisers themselves but also affects

the entire social and economic environment. New enterprise provides new job

opportunities, resulting in successful enterprise contributing to social stability and

resource application. Because of the low entry barriers in the plastic product industry,

this industry is a popular choice among new entrepreneurs. Taiwan has long been a

center of plastic product industry activity, with many such businesses starting up,

while many have also disappeared owing to bad operations. Many of these businesses

failed because of poor assessment of the risks. Consequently, this study examines the

Taiwanese plastic product industry, gathers and screens key factors of new enterprises,

and provides them to experts for careful consideration to provide opinions on whether

they should be added or removed. Following extracting important entrepreneurship

resources, this study applies the analytic network process (ANP) to calculate the

relative importance weights of each dimension, strategic subject, and appraisal

indicator, and then constructs a complete entrepreneurial appraisal model to provide

new enterprises with a practical and scientific measurement process. This

measurement is helpful in objectively appraising the limited qualitative and

quantitative resources and successfully enhancing opportunities for successful

business.

Keywords: Plastic product industry, entrepreneurial resources, appraisal

indicator, analytic network process

INTRODUCTION

Along with the transnational division of labor sweeping the world and

lengthening supply chains, the ability to specialize and innovate are becoming

increasingly important. The transmission of information via the Internet is both fast

and broad. Enterprises in all countries, regardless of size, are encountering new

changes and challenges. Especially most enterprises in Taiwan are medium or

small-scale. Given the rise of China, based primarily on its abundant and cheap labor,

Taiwan was lost its competitive edge. Taiwanese enterprises thus are facing pressure


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to upgrade and reduce costs. To deal with the internal and external environments the

challenges to the competence of Taiwan posed by changes in the internal and external

environments, besides devotion to industry upgrading, the development of new

enterprises can also power the economy and society. Developing new enterprise is not

the only platform by which enterprises can fulfill their dreams, but can also bring man

power into effective place and is closely linked to overall economic environment. The

behavior of developing enterprises not only significantly impacts enterprisers

entrepreneurs themselves but also interacts with social environment. Johnson (1986)

proposed that the main influences of new enterprises on the economy and society

include the following: 1. The existence of new enterprises has benefits that improve

the former operation of business. 2. Regardless of the success of new businesses, their

success helps other businesses increase their effectiveness. 3. Although high failing

rate of new businesses will expand lots of social resources, the new enterprise still canstrengthen the macro economy.

The applications of plastic product industry output are extremely diverse. Based

on production process, output is classified into the three main sectors of plastic

injection molding, plastic extrusion molding, and plastic blow molding. The special

characteristics of the industry include an export orientation, high labor-intensiveness,

high connectivity, low entry barriers, difficultly in developing technology and so on.

The industry has a decades long history in Taiwan, and thus is already quite mature.

Numerous enterprises are currently accumulated in Taiwan, but a number of themwere quit because of worse operation performance. These entrepreneurs sighed out

the main reason was wrong appraisal initially.

This study gathers the key factors in new enterprise success and failure for the

plastic product industry. First, important resources were screened out, organized, and

the questionnaire designed. Then the questionnaire was distributed anonymously to

experts, including those in manufacturing, government, academia and research, and

those experts were asked their considered opinions about adding or deleting

questionnaire content. Finally essential resources were identified and an enterprise

appraisal system set up. The appraisal system comprises three levels. The first level

contains three strategic dimensions, namely production elements, enterprise

intelligence, and business environment. The second level comprises a list of ten

strategic subjects, and the third level includes a total of 50 measurement indicators.

Since, dependencies exist among the three strategic dimensions. Furthermore,

there is no single correspondence between the strategic subjects of the second level

and the measurement indicators of the third level. One measurement indicator thus

probably has two or more relative strategic subjects. This study thus uses the analytic

network process (ANP) proposed by Saaty (1980, 1996,2006) to calculate the relative


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importance weights of each strategic dimension, strategic subject, and measurement

indicator. Next, the entrepreneurial appraisal model is constructed. The weighted

indicators can provide new enterprisers with a practical and scientific appraisal tool to

use as a reference in starting a new enterprise. Entrepreneurs thus obtain a means of

appraising the distribution and quality of the limited resources when they begin new

enterprises. The evaluation model can help entrepreneurs understand their resources

and competitive advantages, as well as providing a reference for drawing up strategies

for obtaining resources.

NEW ENTERPRISE PERFORMANCE APPRAISAL

To efficiently manage new enterprise development and continuously improve

and increase the ratio of success, it is necessary to better understand enterprise activity

performance to achieve further control and management.From a theoretical perspective, research has long been conducted on the

performance appraisal methods of new enterprises. Kelley et al. (1971) identified five

appraisal criteria, including people, technique, product, market and investment

amount. Additionally, MacMillan et al. (1985) proposed that the appraisal criteria

include: enterprise characteristics, enterprise experience, product or service

characteristics, market characteristics, financial concerns, and management team.

Venkatraman and Ramanujam (1986) proposed the following three business

performances (from narrow to broad) including financial performance, business

performance and organization effectiveness. Furthermore, Capon et al. (1990) found

that performance measurement is generally selected privately. Additionally, Cooper

and Arts (1995) proposed using three entrepreneur satisfaction to measure enterprise

performance: initial goal, expectation and unique satisfaction attributes belong to

different type of enterprisers. Brush et al. (2001) discussed the basic resources

required by new enterprises.

This study integrates references regarding new enterprises, characteristics of the

plastic product industry, entrepreneurial resources, and business performance

appraisal to build up initial performance indicators of plastic product industry and

provide a basis for model design. According to theoretical research and practical

discussion, the appraisal object is divided into resource events, their connections are

analyzed, and a research framework for the appraisal model is shown in Fig. 1.

Notably, the relationship between resource and ability is often one of cause and effect.

For example, the management ability required by a start-up already exists in the

enterprise team, but can also be obtained by recruiting professionals. Besides,

entrepreneurs themselves are often a labor resource during the initial enterprise period

of the Taiwan plastic product industry.Based on this framework, this study divides the appraisal indicators into three


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dimensions based on their attributes:

1.Production elements: including the expected element content required forproduction following setting up the plant when the enterpriser is ready to set up a

plastic product manufacturing facility.

2.Enterprise intelligence: including enterprisers will and conation to establish anenterprise, ability to operate enterprise activity, and ability to manage the new

business after start up.

3.Business Environment: appraise supply chain and business environment of theplastic product industry, including upstream supply chain, downstream markets,

and the competitiveness of the industry and the general environment.

Figure 1: The research framework of enterprise appraisal in the plastic product

industry

TO CONSTRUCT PLASTIC PRODUCT INDUSTRY APPRAISAL

MODEL

This study constructs the enterprise appraisal model for the plastic product

industry in three stages, as shown in Fig. 2:

Stage 1. Build up initial indicators and framework

Organizing reference and research, referring to the practical enterprise operative

characteristics of the industry to organize, marshal and analyze the existing research

basis for theory basis of our study and identify future research directions, then

establish initial indicator events.

Stage 2. Extract and modify each appraisal indicator and framework

To meet actual needs and feasibility, before implementing relative importance

appraisal, it is necessary to survey expert opinion via questionnaire. Overall expert

opinion is constructed by integrating opinions from government departments,academics and researchers focused on enterprise and business management,


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entrepreneurs dealing in plastic products and other domains. The initial enterprise

appraisal indicators and framework are extracted and modified during this first stage.

Stage 3. Build up the enterprise appraisal model

Include the appraisal indicators and framework extracted during the 2nd

stage in

the questionnaire survey to obtain opinions from manufacturers, government,

academia, researchers and those with actual working experience in enterprise.

Perform ANP analysis to obtain the relative weight of each indicator and build the

enterprise appraisal model for the plastic product industry.

3.1 Build the initial appraisal indicators and framework


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Organizing reference and research, extract important resources and classify

events into three levels based on different attributes. The 1st

level comprises 3

dimensions, the 2nd

level has 10 strategic subjects and the 3rd

level has 54

performance measurement indicators, as listed in Table 1.

table 1: The plastic product industry enterprise initial appraisal indicators listDimension Strategic Subject Appraisal Event

Production Elements

(correlate with enterpriseintelligence and business

environment dimensions)

Expected Acquirement

of Facility

Land, Building and Other Realty

Production Equipment, Machines and Tools

(correlate with production skill strategic subject)

Information System

Production and Technique Database

(correlate with production skill strategic subject)

Business Geographic Location

Production Skills Experience of Full-time Job in Plastic Product Industry

Knowledge and Ability of Plastic Product Industry

Ability of Product R&D and Sample Production

Stability of Mass Production and Supply

Product Channel and Marketing Ability(correlate with operation and management ability strategic subject)

Ability of Post-sale Service

Expected Finance Enterprise Fund and Financial Assets

Ability to Finance and Credit Loan

Estimate Effectiveness Rate of Enterprise Investment

Valuable Contract

Valuable IPR

Enterprise Intelligence

(correlate with production

elements and businessenvironment dimensions)

Enterprise Conation Enthusiasm and Ambition

Concentration Degree on Business

Vision and Responsibility

Stability and Patience

Kith and Kins Supportability

Operation and

Management Ability

Ability to Review and Solve Problems

Connection and Network Relationship

Individual and Teams Reputation

Ability to Negotiate with the Public

Ability to Assess Risks

Consistency between Objective and Actual Operation

Physical Condition and Health Status

Enterprise Operation Enterprise Members Collaborative Operation Ability

Enterprise Members Loyalty

Knowledge Management Ability(correlate with operation and management ability strategic subject)

Learning Ability

Operational Elasticity

Business Environment

(correlate with productionelements and enterprise

intelligence dimensions)

Target Market of

Product

Certainty of Product Needs

Vision and Foresight of Target Market

Target Customers Loyalty

Purchasing Power of Potential Customers

Distributors Coordination

(correlate with competitive situation strategic subject)

Competitive Situation Sustainability of Competitive AdvantageProduct Quality and Efficiency Advantage

Completeness of Product Line

Cost Advantage

Entry Barrier for the Market Latter

Minacity of Substitutes

Suppliers Suppliers Coordination(correlate with competitive situation strategic subject)

Suppliers Long-term Stability

Geographic Location of Supplier

Gathering of Suppliers

Public Support and

Limitation

Supportability of Public Policy

Supportability of Infrastructure

Related Laws Support and Limitation

Suitability for the Social Culture

Acceptability of Community and the PublicStability of Macro-Environment


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3.2 Extract and ensure each appraisal indicator

After establishing the initial appraisal indicators, this stage involves

administering an expert questionnaire. Gathering expert opinions of the initial

appraisal framework and indicators in order to modify framework and indicators and

make sure the final model was satisfy. The research was conducted anonymously out

of consideration for the feelings of respondents. Having experience of plastic product

industry enterprise is the most important consideration in expert selection. Based on

the above principles, this study selects 12 experts with over five years of experience

from enterprises in the plastic product industry, executive officers of government

counseling enterprise department, and academics and researchers in related academic

domains. The questionnaire return rate is 100%.

The expert consulting questionnaire utilizes a two-point scale. Two events,

appropriate and not appropriate are designed to indicate the feasibility of initialmeasurement dimensions, strategic subjects and appraisal indicators, and opinion

columns are used for respondents, offering suggestions on modifications or adding

further appraisal indicators. The screening criteria for expert opinions are as follows:

1.If the percentage ofappropriate responses for an event exceeds 90%, the event iskept.

2.If the percentage ofappropriate responses for an event is lower than 90% and nomodifying opinion exists, the event is not kept.

3.If the percentage ofappropriate responses for an event is between 90%~80% anda modifying opinion exists, modifying the event is considered.

Following consulting with experts, the appraisal indicators of each measurement

dimension are shown in Fig. 3. The three dimensions correlate with each other. Some

of the appraisal indicators of the production element dimension are linked to some of

the appraisal indicators of the enterprise intelligence dimension. The simple level

model cannot completely display this type of network relationship.


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Figure 3: The entrepreneurial appraisal model framework of plastic product industry

and relationship between appraisal indicators.

3.3 Construct the entrepreneurial appraisal model

3.3.1 Main steps in the analytic network process

Based on Saaty (1996, 2006), the analytic network comprises four major steps.

Step 1. Establish the problem structure


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Determine the objectives according to the research subject, list criteria and

sub-criteria in each criterion group. If there exists effect between each criterion then

the effects is outer dependence. If the sub-criteria are included in each criterion group,

then the effects on the various groups are inner dependence. After understanding the

relationship between each level, it is possible to illustrate the entire structure of the

problem the problem structure is shown in Fig. 3 on the previous page.

Step 2. Perform a pair-wise comparison of each decision criterion

Pair comparison involves comparing two criteria, and thus the comparison is

divided into two parts, including pair comparison between each criterion and between

sub-criteria in the criteria group. Pair comparison among sub-criteria can be further

divided into pair comparison within the same group and between elements of different

groups. The comparison appraisal scales and analytic hierarchy process (AHP) are the

same in both cases. The eigenvectors are obtained via the comparison matrix and asthe value required by the supermatrix during the next stage, and can demonstrate the

dependence relationship and the relative importance of different groups. Since the

score of AHP ranges between 1~9, the pairwise comparison matrix is used to figure

out the largest eigenvalue (max) and eigenvector.

Following calculating max, it is necessary to utilize the consistency ratio and

consistency index again to perform the consistency test (C.R.=C.I./R.I.) to ensure the

analytical results obtained from the questionnaire have adequate consistency. C.R.

refers to consistency ratio, C.I. denotes consistency index and R.I. is the random index.The values of these variables are based on the stage number of the comparison matrix.

Table 3 lists comparison event number N for each stage, as well as their relative

random index values.

Table 3: Random index value of ANP pair comparison

n 1 2 3 4 5 6 7 8 9 10

R.I. 0 0 0.52 0.89 1.11 1.25 1.35 1.40 1.45 1.49

C.I.(max n ) ( n 1), n denotes the number of comparison factors,

while max represents the largest eigenvalue of the comparison matrix.

When C.I.0 means the analysis of expert opinions is inconsistent.When C.I.0 means the analysis is completely consistent.

When C.I.0.1 means the analysis result is consistent.

Satty(1996, 2006) indicated that C.I.0.1 means that when the decision makers

creates a pairwise comparison matrix, the degree of deviation of the computed weight

of each element is acceptable and still matches the consistency requirement, but the

largest acceptable deviation degree is C.I.0.2. If the value exceeds this range, it is

necessary to review the problem and modify the pairwise comparison decision.

Step 3. Build the supermatrix

Supermatrix is a method of solving the dependence of each system criterion


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efficiently. The Supermatrix comprises several sub-matrixes, each of which also

includes the correlation between elements of every group and the correlation

comparison with elements in other groups. The value of each sub-matrix is

eigenvector computed via pair-wise comparison and as the weight value of sub-matrix.

Finally it becomes a supermatrix.

If the elements of the matrix are mutually dependent, then after several

multiplications the matrix yields a fixed convergence extreme value which is constant.

The computation of ANP includes three matrixes, including unweighted supermatrix,

weighted supermatrix and limit supermatrix. The unweighted matrix refers to the

weights obtained from the original pairwise comparison, the weighted matrix is the

unweighted matrix multipled by the eigenvector obtained from the pair wise

comparison matrix then formalized. If each vertical column of the unweighted matrix

totals 1, the weighted matrix is the unweighted matrix in this situation, the limitmatrix if weighted matrix multiple itself several times will converge to a fixed value

then the weight of each element is obtained.

Step 4. Select alternatives

Based on several computations of the supermatrix, the number of obtained

weights can provide the priority basis when selecting individual objectives.

3.3.2 Implementation of the ANP questionnaire survey

This study utilizes ANP to establish the weight of each appraisal indicator. The

design of ANP questionnaire put each measurement dimension, strategic subject andappraisal indicator into the pair comparison using a nominal scale to compare the

relative importance of the two. The nominal scale is classified into nine levels,

including absolutely strong, extremely strong, very strong, slightly strong, equal,

slightly weak, very weak, extremely weak and absolutely weak, to increase the

research validity. To put respondents at ease the questionnaire was administered

anonymously. The targets of the ANP questionnaire must have experience of the

plastic industry or have acquired considerable related knowledge. Furthermore,

considering the investigating results, half the sample comprises entrepreneurs who

had actually worked in the plastic product industry. 31 ANP questionnaires were

issued, 30 questionnaires were returned, and the valid questionnaire rate was 96.8%.

Table 2 lists the sample composition in detail.


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Table 2. Sample composition of ANP questionnaire

Questionnaire

Target

Send out

number

Return

number

Unreturned

number

Valid

questionnaire

Invalid

questionnaire

Practical

Enterpriser16 15 1 15 1

GovernmentDepartment 5 5 0 5 0

EnterpriseConsultant

5 5 0 5 0

Educationist

and Researcher5 5 0 5 0

3.3.3 Analysis of ANP questionnaire result

After inputting the ANP questionnaire value to the Super Decisions application

software for computation, this study obtains the weight of each dimension, strategic

subject and indicator. All of the computed results pass the consistency test (C.R.

0.1), and Table 3 lists all the value of the appraisal indicator weights.

The analysis reveals the effect of the degree of the three major dimensions on

enterprise performance if Taiwans plastic product industry ranking in terms of

production elements, enterprise intelligence and business environment. Comparing

strategic subject level can rank the top five indicators by weighting ten strategic

subjects as follow: production skills, operation and management ability, expected

finance, enterprise conation and competitive advantage.

In the production element dimension, the top five indicators with the largest

weighting are ranked as follows: ability to obtain enterprise funding, estimation of the

effectiveness of enterprise investment, product channels and marketing ability,

knowledge and ability of the plastic product industry and stability of mass production

and supply. With regard to enterprise intelligence, the leading five indicators with the

largest weighting were ranked as follows: stability and patience, enthusiasm and

ambition, degree of concentration on business, ability to review and solve problems,

and knowledge management ability. In the business environment, the top three

indicators with the largest weighting ranked as follows: certainty of product needs,

stability of supplier supply and supplier coordination.


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Table 3. The entrepreneurial appraisal model of plastic product industry

Dimension Strategic subject Appraisal eventIndicato

r weight

Strategic

weight

Dimension

weight

ProductionElements

(0.425)*

ExpectedAcquirement

of Facility

(0.196 / 0.083)**

Production Equipment, Machines and Tools 0.333 0.065 0.027

Acquire Manufacturing Right 0.333 0.065 0.027

Land, Building and Other Realty 0.167 0.014 0.014

Information System 0.167 0.014 0.014

Production Skills

(0.493 / 0.210)

Product Channel and Marketing Ability 0.173 0.085 0.036

Knowledge and Ability of Plastic Product Industry 0.134 0.066 0.028

Stability of Mass Production and Supply 0.132 0.065 0.028

Experience of Full-time Job in Plastic Product Industry 0.122 0.060 0.026

Ability of Product R&D and Sample Production 0.114 0.056 0.024

Acquire Manufacturing Right 0.116 0.057 0.024

Ability of Post-sale Service 0.105 0.052 0.022

Production Equipment, Machines and Tools 0.104 0.051 0.022

Expected Finance(0.311 / 0.132)

Ability to Acquire Enterprise Fund 0.368 0.114 0.049

Estimate Effectiveness Rate of Enterprise Investment 0.282 0.088 0.037

Valuable IPR 0.200 0.062 0.026

Ability to Finance and Credit Loan 0.150 0.047 0.020

Enterprise

Intelligence(0.321)*

Enterprise

Conation(0.327 / 0.105)**

Stability and Patience 0.253 0.111 0.027

Enthusiasm and Ambition 0.234 0.077 0.025

Concentration Degree on Business 0.219 0.097 0.023

Vision and Responsibility 0.167 0.086 0.018Kith and Kins Supportability 0.127 0.078 0.013

Operation and

ManagementAbility

(0.413 / 0.133)

Ability to Review and Solve Problems 0.177 0.073 0.023

Knowledge Management Ability 0.134 0.055 0.018

Ability to Negotiate with the Public 0.123 0.051 0.016

Connection and Network Relationship 0.122 0.050 0.015

Ability to Assess Risks 0.122 0.050 0.015

Physical Condition and Health Status 0.121 0.050 0.015

Product Channel and Marketing Ability 0.106 0.044 0.014

Individual and Teams Reputation 0.096 0.040 0.013

EnterpriseOperation

(0.260 / 0.083)

Enterprise Members Collaborative Operation Ability 0.188 0.049 0.016

Learning Ability 0.188 0.049 0.016

Consistency between Objective and Actual Operation 0.164 0.043 0.013

Knowledge Management Ability 0.164 0.043 0.013

Enterprise Members Loyalty 0.148 0.038 0.012

Operational Elasticity 0.148 0.038 0.012Business

Environment

(0.254)

Target Marketof Product

(0.317 / 0.081)

Certainty of Product Needs 0.332 0.105 0.027

Vision and Foresight of Target Market 0.167 0.053 0.013

Target Customers Loyalty 0.167 0.053 0.013

Purchasing Power of Potential Customers 0.167 0.053 0.013

Distributors Coordination 0.167 0.053 0.013

CompetitiveAdvantages

(0.389 / 0.099)

Suppliers Coordination 0.108 0.042 0.017

Sustainability of Competitive Advantage 0.147 0.057 0.015

Product Quality and Efficiency Advantage 0.137 0.053 0.014

Cost Advantage 0.137 0.053 0.014

Completeness of Product Line 0.128 0.050 0.013

Distributors Coordination 0.118 0.046 0.012

Entry Barrier for Market Initiate 0.110 0.043 0.011

Minacity of Other Substitutes 0.116 0.045 0.011

Suppliers

(0.172 / 0.044)

Stability of Suppliers Supply 0.443 0.076 0.019

Suppliers Coordination 0.387 0.067 0.017

Geographic Location of Supplier 0.169 0.029 0.007

Public Support

and Limitation(0.122 / 0.031)

Stability of Macro-Environment 0.296 0.036 0.009

Acceptability of Community and the Public 0.225 0.027 0.007

Supportability of Infrastructure 0.165 0.020 0.005

Related Laws and Limitation 0.171 0.021 0.005

Supportability of Public Policy 0.143 0.017 0.004

CONCLUSION AND SUGGESTIONS

This study refers to relevant research and practical way of the plastic industry,

integrates expert opinions from related areas, and construct an appraisal framework

and indicators. The appraisal opinions surveyed by ANP analysis are then used to

calculate the weight of each appraisal indicator. Finally, this study develops the


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enterprise appraisal model for the Taiwanese plastic product industry. Based on the

study results, the following conclusions are proposed:

1.Analysis demonstrates that for enterprisers in the Taiwan plastic product industrythe strategic subjects that exert the greatest effect on their enterprise performance

are: production skills (21%), operation and management ability (13.3%), expected

finance (13.2%), etc. For the plastic product industry, during the initial enterprise

period, the main thing is to obtain resources related to these three areas. Controlling

sufficient enterprise funds and manufacturing skills, and have the ability to operate

and manage a new business will benefit enterprise activity the most.

2.For the Taiwanese plastic product industry, suppliers (4.4%) and public support andlimitation (3.1%) and so on related to the strategic subject of business environment

have less effect on enterprise activity performance. This result shows that this

industry has a long history in Taiwan and is relatively mature and traditional,meaning there has been minimal change in the related business environment, as

well as in public support and limitations. The supply set is perfect, so materials

supply is extremely stable.

Analyzing and comparing the relative weights of all the appraisal indicators, this

study proposes the following explanations and suggestions:

1.Ability to acquire enterprise funding (4.9%)The plastic industry is a labor-intensive and capital-intensive industry. On start

up all firms must pay a considerable sum for fixed equipment such as plant,equipment, and materials. Meanwhile, because of the business habits of the industry,

they frequently keep additional working capital to cover variation in the balance

between accounts payable and receivable. Therefore they often consider capital an

important influence on enterprise performance.

2.Estimate the effectiveness of enterprise investment (3.7%)Because besides a small number of businesses with special niches, most

Taiwanese plastic product producers are actually producing generic items. For

enterprisers, estimating the rate of effectiveness of investment before entering this

industry is crucial.

3.Product channel and marketing ability (3.6%)Since the plastic products industry is a mature industry, as well as being

export-oriented, possessing product channels and marketing ability is crucial. Have a

stable order source reduces the apportionment of fixed costs and is obviously

important for the operations of the plastic product industry.

Besides these three appraisal indicators, other indicators such as the knowledge

and ability of the plastic product industry (2.8%), stability of mass production and

supply (2.8%), production equipment, machines and tools (2.7%), acquiring of


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manufacturing rights (2.7%), stability and patience (2.7%), certainty of product needs

(2.7%), experience of full-time work in the plastic product industry (2.6%), valuable

IPR (2.6%), enthusiasm and ambition (2.5%), and so on are highly effective appraisal

indicators.

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unique advantage: The entrepreneurial challenge of constructing a resource base,

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Capon, N., Farley, J.U., and Hoening, S. 1990. Determinants of Firm Performance: A

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Saaty, T.L. 1980. The Analytic Hierarchy Process, New York: McGraw-Hill.Saaty, T.L. 1996. The analytic network process, RWS Publications, Expert Choice,

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