Optimizing of the Balanced Scorecard method for management of mining companies with the use of factor analysis

The managers of information age companies cannot rely merely on data derived from past activities of the company and focus on improving existing processes. They need a frame for measuring values that result from strategic goals of the company, a tool, which is focusing on obtaining information about company's current success, as well as finding new driving forces to ensure the future competitiveness of the company. Strategic business performance measurement system the Balanced Scorecard (BSC) is a suitable tool for improving the competitiveness of industrial companies. During its implementation, however, there is a conflict of perception of the importance of individual goals and measurable characteristics in partial perspectives of the BSC and its actual enforcement of the various strategic objectives in companies. The aim of this article is to verify the accuracy of BSC settings in an environment of selected companies in the Moravian-Silesian region with the emphasis placed on mining companies with the help of multidimensional statistics - factor analysis. The research took place in 2015 in cooperation with managers from the Moravian-Silesian Region (MSR), and it was divided into two kinds of research - quantitative and qualitative.Web of Science22444743

A new approach to analyze strategy map using an integrated BSC and FUZZY DEMATEL

Today, with ever-increasing competition in global economic conditions, the necessity of effective implementation of strategy map has become an inevitable and necessary. The strategy map represents a general and structured framework for strategic objectives and plays an important role in forming competitive advantages for organizations. It is important to find important factors influencing strategy map and prioritize them based on suitable factors. In this paper, we propose an integration of BSC and Fuzzy DEMATEL technique to rank different items influencing strategy of a production plan. The proposed technique is implemented for real-world case study of glass production

An integrated approach to analyze strategy map using BSC – FUZZY AHP: A case study of Dairy companies

In an environment, which is highly competitive and everything changes rapidly, managers of organizations face with problems such as how to identify important factors preventing organizations from optimum use of available resources and capacities and invest more on key factors. To achieve this goal, we need to develop an effective strategy map for organizations. The strategy map is a constructional and expanding procedure to identify relationships among all the organization's strategic goals, which play a key role in achieving competitive advantage. Undoubtedly, representing a model to identify and to evaluate the important items for each of available goals in strategy map of each organization is a significant help for management to access higher competition benefits. In this paper, strategic objectives in the strategy map of one of the best producer of electric auto part makers in Iran called Electric Vehicle Co. East are evaluated based on balanced score card perspective and to assign appropriate values to available factors we use a hybrid method consist of AHP technique with Fuzzy logic

An integrated approach to analyze strategy map using BSC – FUZZY AHP: A case study of Dairy companies

In an environment, which is highly competitive and everything changes rapidly, managers of organizations face with problems such as how to identify important factors preventing organizations from optimum use of available resources and capacities and invest more on key factors. To achieve this goal, we need to develop an effective strategy map for organizations. The strategy map is a constructional and expanding procedure to identify relationships among all the organization's strategic goals, which play a key role in achieving competitive advantage. Undoubtedly, representing a model to identify and to evaluate the important items for each of available goals in strategy map of each organization is a significant help for management to access higher competition benefits. In this paper, strategic objectives in the strategy map of one of the best producer of electric auto part makers in Iran called Electric Vehicle Co. East are evaluated based on balanced score card perspective and to assign appropriate values to available factors we use a hybrid method consist of AHP technique with Fuzzy logic

Green supply chain performance measurement using fuzzy ANP-based balanced scorecard:a collaborative decision-making approach

The purpose of this paper is to delineate a green supply chain (GSC) performance measurement framework using an intra-organisational collaborative decision-making (CDM) approach. A fuzzy analytic network process (ANP)-based green-balanced scorecard (GrBSc) has been used within the CDM approach to assist in arriving at a consistent, accurate and timely data flow across all cross-functional areas of a business. A green causal relationship is established and linked to the fuzzy ANP approach. The causal relationship involves organisational commitment, eco-design, GSC process, social performance and sustainable performance constructs. Sub-constructs and sub-sub-constructs are also identified and linked to the causal relationship to form a network. The fuzzy ANP approach suitably handles the vagueness of the linguistics information of the CDM approach. The CDM approach is implemented in a UK-based carpet-manufacturing firm. The performance measurement approach, in addition to the traditional financial performance and accounting measures, aids in firms decision-making with regard to the overall organisational goals. The implemented approach assists the firm in identifying further requirements of the collaborative data across the supply-cain and information about customers and markets. Overall, the CDM-based GrBSc approach assists managers in deciding if the suppliers performances meet the industry and environment standards with effective human resource

An integrated approach to analyze strategy map using BSC – FUZZY AHP: A case study of Dairy companies

In an environment, which is highly competitive and everything changes rapidly, managers of organizations face with problems such as how to identify important factors preventing organizations from optimum use of available resources and capacities and invest more on key factors. To achieve this goal, we need to develop an effective strategy map for organizations. The strategy map is a constructional and expanding procedure to identify relationships among all the organization's strategic goals, which play a key role in achieving competitive advantage. Undoubtedly, representing a model to identify and to evaluate the important items for each of available goals in strategy map of each organization is a significant help for management to access higher competition benefits. In this paper, strategic objectives in the strategy map of one of the best producer of electric auto part makers in Iran called Electric Vehicle Co. East are evaluated based on balanced score card perspective and to assign appropriate values to available factors we use a hybrid method consist of AHP technique with Fuzzy logic

Pomiar wydajności zarządzania zielonymi łańcuchami dostaw

Only what is measured can be managed properly. And the measurement process should serve a continuous improvement of companies and whole supply chains. Data from the performance measurement system should cause an increase of cooperation and help in taking right decisions about changes at the operational level, and on the other hand, are an important information when redefining strategies. This will allow for the development of the supply chain based on knowledge, in which the scope of cooperation is literally unlimited (including green aspects). There are two basic approaches to measuring the performance of supply chains: a comprehensive measurement that measures the results of the entire chain (which can be divided into individual tiers and levels) and partial measurement when we measure only certain aspects. Often, in practice, only measurement of separately operating companies is practiced by companies, not throughout chains. And the problem is even more evident when it comes to measuring performance of green activities in integrated supply chains. The paper presents the possibilities of evaluation of GSCM performance. The major challenges and obstacles are presented and assessed.Tylko to, co jest mierzone, może być właściwie zarządzane. Proces pomiaru powinien służyć ciągłemu doskonaleniu przedsiębiorstw i całych łańcuchów dostaw. Dane z systemu pomiaru powinny powodować wzrost współpracy i pomagać w podejmowaniu decyzji o zmianach na poziomie operacyjnym, a z drugiej strony może to być ważna informacja przy przedefiniowaniu strategii. Pozwala to na rozwój łańcuchów dostaw opartych na wiedzy, gdzie zakres współpracy jest dosłownie nieograniczony (dotyczy to również aspektów ekologicznych). Istnieją dwa podstawowe podejścia do pomiaru wydajności łańcucha dostaw: kompleksowy pomiar, który patrzy na wyniki całego łańcucha (który można rozdzielić na poszczególne szczeble i poziomy), oraz pomiar częściowy, gdy mierzymy tylko niektóre aspekty. Często praktykowany jest tylko pomiar oddzielnie działających firm, a nie całego łańcucha. Problem jest jeszcze bardziej widoczny, jeśli chodzi o pomiar wydajności działań ekologicznych w zintegrowanych łańcuchach dostaw. W artykule opisano możliwości oceny wyników GSCM. Przedstawiono i oceniono główne wyzwania i przeszkody stojące przed pomiarem wyników zielonych łańcuchów dostaw

Balanced scorecard-based performance assessment of Turkish banking sector with the Analytic Network Process (ANP)

In the last decade, Performance assessment of banking sectors in advanced economies became a prominent issue investment decision. This paper aims to evaluate the balanced-scorecard-based performance of the Turkish banking sector using the Analytic Network Process Approach. Within this scope, all 33 deposit banks were intended to analyze out of 34 banks. Within this scope, we made an analysis in order to determine which perspectives of the balanced scorecard approach are appropriate for each type of bank (state banks, private banks, foreign banks). In this study, we used Analytic Network Process (ANP) approaches so as to achieve this objective. With a balanced-scorecard performance assessment of the banking sector using the ANP approach, all the factor priorities have been extracted and normalized to one for each cluster and final priorities have been obtained. The final priorities and rankings of each perspective of the balanced scorecard and the type of bank ownership have been assessed in the model. According to the results of the analysis, Findings demonstrate that (i) financial factor of balanced scorecard approach has the first rank with 65.7 percent; (ii) Customer perceptive is in the second rank with 22.1 percent. (iii)Third and fourth ranks have close results, (iv) learning and growth stay in the third rank with 6.3 percent (v) internal factor has the weakest importance with 5.9%, (vi) state banks into bank ownership have the highest rank with 53.9 percent, (vii) Private owned banks are the second in the relative performance of the bank groups with 36.1%, (viii) Balanced scorecard based performance of foreign banks are replaced in the last order with approximately 10%

Strategic Rethinking: Combination of Balanced Scorecard-based Approach and Fuzzy Analytic Network Process to Enhance the Education Quality

Educational providers should monitor and measure their performance continuously, in terms of delivering qualified education to the students and to improve their accountability. Although the importance of such an assessment process has been stressed in the literatures, policies and regulations, there is no framework that has been proposed to consider all the different relevant factors and determines semantically the level of the quality of education being delivered. In order to provide such an approach, in this paper we propose a framework by which the quality of education being delivered in a subject in an Indonesian university can be determined by using the Balanced Scorecard (BSC). The proposed approach will capture the different factors to be considered from the different perspectives and assimilate them to determine the quality of education. The resultant analysis will provide important inputs to the different stakeholders involved in taking appropriate measures to ensure that students\u27 learning experiences can be maintained at a certain desired level

Supplier selection in automobile industry: A mixed balanced scorecard–fuzzy AHP approach

AbstractThis study proposed an integrated Balanced Scorecard–Fuzzy Analytic Hierarchical Process (BSC–FAHP) model to select suppliers in the automotive industry. In spite of the vast amount of studies on supplier selection, the evaluation and selection of suppliers using the specific measures of the automotive industry are less investigated. In order to fill this gap, this research proposed a new BSC for supplier selection of automobile industry. Measures were gathered using a literature survey and accredited using Nominal Group Technique (NGT). Finally, a fuzzy AHP was used to select the best supplier