A Hybrid BSC-DEA Model with Indeterminate Information

Abstract

Strategy is the main source of long-term growth for organizations, and if it is not successfully implemented, even if appropriate ones are adopted, the process is futile. The balanced scorecard which focuses on four aspects such as growth and learning, internal processes, customer, and financial is considered as a comprehensive framework for assessing performance and the progress of the strategy. Moreover, the data envelopment analysis is one of the best mathematical methods to compute the efficiency of organizations. The combination of these two techniques is a significant quantitative measurement with respect to the organization’s performance. However, in the real world, determinate and indeterminate information exists. Henceforth, the indeterminate issues are inescapable and must be considered in the performance evaluation. Neutrosophic number is a helpful tool for dealing with information that is indeterminate and incomplete. In this paper, we propose a new model of data envelopment analysis in the neutrosophic number environment. Furthermore, we attempt to combine the new model with the balanced scorecard to rank different decision-making units. Finally, the proposed method is illustrated by an empirical study involving 20 banking branches. The results show the effectiveness of the proposed method and indicate that the model has practical outcomes for decision-makers.

Neutrosophic management evaluation of insurance companies by a hybrid TODIM-BSC method: a case study in private insurance companies

“…We know that BSC is considered as a valuable measuring mechanism from four angles. Based on cause and effect and according to strategic goal indicators these four angles are: financial point of view, customers, internal processes and growth and learning (Jaberi Hafshjani et al, 2021). Although the BSC is considered as one of the most valuable approaches in performance analysis based on key indicators, it lacks the mathematical efficiency in quantitative measurement of the organizational performance.…”

“…We know that BSC is considered as a valuable measuring mechanism from four angles. Based on cause and effect and according to strategic goal indicators these four angles are: financial point of view, customers, internal processes and growth and learning (Jaberi Hafshjani et al. , 2021).…”

Evaluation of safety-based performance in construction projects with neutrosophic data envelopment analysis

“…NN is also applied in various problems (Smarandache, 2015;Ye and Cui, 2018b;Ye, 2018;Mondal et al, 2021). Nevertheless, as far as we know, the model of Jaberi Hafshjani et al (2021) is the only study devoted to the DEA and NN. Jaberi Hafshjani et al (2021), proposed a parametric method for NN based DEA models, which we have used in our study in the present paper.…”

“…, 2021). Nevertheless, as far as we know, the model of Jaberi Hafshjani et al. (2021) is the only study devoted to the DEA and NN.…”

Investigation of the Application of Balanced Indicator Systems for the Evaluation of Companies’ Performance

“…Be to, esant dinamiškai ir augančiai verslo aplinkai, organizacijos turi pasirūpinti, kad jų strategijos būtų kuo naujesnės, kruopščiai ir tiksliai apsvarstytos ir patenkintų suinteresuotųjų šalių tikslus (Dwivedi et al, 2021). Subalansuotų rodiklių sistema (BSC) pristatoma kaip išsami veiklos rezultatų vertinimo ir strategijos tobulinimo sistema, kuri subalansuoja trumpalaikius ir ilgalaikius tikslus, finansines ir nefinansines priemones, vidaus ir išorės veiklos rezultatus, vidinius ir išorinius suinteresuotuosius subjektus ar įvykius, progresyvius ir neprogresyvius rodiklius (Hafshjani et al, 2021). Na o autoriai Hansen ir Schaltegger (2018) mano, kad subalansuotų rodiklių sistemos atsiradimą ir taikymą praktikoje paskatino augantis supratimas apie organizacinės sėkmės vertinimą.…”