Evaluating the performance of thermal power enterprises using sustainability balanced scorecard, fuzzy Delphic and hybrid multi-criteria decision making approaches for sustainability

Zhao, Huiru; Li, Nana

doi:10.1016/j.jclepro.2015.07.141

Cited by 57 publications

(37 citation statements)

References 31 publications

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“…Furthermore, some extended balanced scorecard designs have been developed to integrate the measurements of economic, social, and environmental factors in order to evaluate corporate sustainability performance (e.g., [45][46][47][48][49]). Scholars and practitioners therefore believe that the balanced scorecard is an appropriate tool for assessing the corporate sustainability performance because it can integrate the economic, environmental, and social needs of key stakeholders (e.g., [45,[50][51][52][53]).…”

Section: Practical Application Of the Balanced Scorecard And Its Extementioning

confidence: 99%

“…This link not only includes causality, but also a combination of measurement of outcomes and measurement of the process leading to the results, which ultimately reflects the success of the organization's strategy. Compared with traditional and short-term oriented performance evaluation models, the BSC can assist in performance evaluation of the CSR-oriented internal control, because it focuses more on the various stakeholders' interests, reflecting the need for sustainable corporate development [53,54] and the links between the main sources of value and corporate strategy [43].…”

Section: Practical Application Of the Balanced Scorecard And Its Extementioning

confidence: 99%

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An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

Liu

2018

Sustainability

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Although the importance of corporate social responsibility has received more attention over the years, the goal of social sustainability has still not been achieved. The main reason is that companies seeking to implement social sustainability, have failed to incorporate the concept of corporate social responsibility into their corporate internal control objectives. Furthermore, studying the interactive relationship between corporate social responsibility and internal control and ensuring the consistency of corporate strategy and internal control objectives are done to help promote the sustainable development of enterprises. In order to promote social sustainability and improve management decision-making gaps, therefore, the purpose of this paper is to develop a new hybrid multi-attribute decision model to assess the impact of corporate social responsibility for the implementation of internal control that includes corporate social responsibility. The empirical results show that a social responsibility-oriented internal control system may be a better strategy than maintaining the original internal control objectives. In addition, by adjusting the internal control system to jointly promote the sustainable development goals of the company and ensure the consistency of corporate strategy and internal control objectives, the company can be truly guided to implement the social responsibility management objectives. Finally, the social sustainable development goals can be truly realized, and the interests of all stakeholders in the enterprise can be truly satisfied.

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Section: Practical Application Of the Balanced Scorecard And Its Extementioning

confidence: 99%

Section: Practical Application Of the Balanced Scorecard And Its Extementioning

confidence: 99%

An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

Liu

2018

Sustainability

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“…. , a nW ) T (2) where a iW implies the critical degree of sub-criterion i over the worst one, and a WW = 1.…”

Section: The Bwmmentioning

confidence: 99%

Selecting the Optimal Micro-Grid Planning Program Using a Novel Multi-Criteria Decision Making Model Based on Grey Cumulative Prospect Theory

2018

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Abstract:As useful supplements and effective support for large-scale electric power networks, micro-grid systems are the development tendency of future electric power systems. The planning performance of a micro-grid not only affects its security, reliability and economy, but also has a profound influence on the stable operation of large-scale electric power networks with the increasing penetration of micro-grids. Hence, studies related to micro-grid planning program evaluation are of great significance. This paper established a novel multi-criteria decision making (MCDM) model combining the best-worst method (BWM), the entropy weighting approach, and grey cumulative prospect theory for optimum selection of micro-grid planning programs. Firstly, an evaluation index system containing 18 sub-criteria was built from the perspectives of economy, electricity supply reliability and environmental protection. Secondly, the weights of sub-criteria were calculated integrating the subjective weights judged by the BWM and the objective weights computed by the entropy weighting method. Then, the cumulative prospect theory (CPT) combined with grey theory was employed to select the optimal micro-grid planning program. The empirical result indicates that the program with 100 kWp photovoltaic power generation unit, 200 kW wind power generation unit and 600 kWh NaS battery energy storage system is the optimal micro-grid planning program. To verify the robustness of obtained result, a sensitivity analysis related to values change of parameters under different risk preferences was conducted, and the result indicates that the selected optimal micro-grid planning program will not be influenced by various risk preferences of decision makers (DMs) and investors. The novel MCDM proposed in this paper is applicable and feasible in the micro-grid planning programs evaluation and selection.

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“…The membership function cannot only demonstrate the opinions of experts, but also take all views into consideration that will not miss any information. In terms of the outstanding performance of Fuzzy-Delphi approach, it has been utilized in various researches in screening evaluation indicators [50]. The procedures of Fuzzy-Delphi approach are elaborated as below.…”

Section: Fuzzy-delphi Approachmentioning

confidence: 99%

“…Step 3: Testing on the consensus of experts' views and determining the coherent value G i of i sub-criterion [50,51].…”

Section: Fuzzy-delphi Approachmentioning

confidence: 99%

Comprehensive Performance Evaluation of Electricity Grid Corporations Employing a Novel MCDM Model

Zhao

Guo

2018

Sustainability

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Abstract:Under the new round reform of electricity market in China, a large amount of electricity sales companies has emerged in some provinces, and the reform of transmission and distribution tariffs is also in progress. Electricity grid corporations are required to update their operational strategies and improve comprehensive performance to adapt to the fierce competition in the electricity market. Considering this, a novel MCDM (multi-criteria decision making) model integrating Fuzzy-Delphi, the best-worst method (BWM), the entropy weight calculation approach, and the VIKOR method is established in this investigation to assess the comprehensive performances of five selected provincial electricity grid corporations. The comprehensive performance assessment indicator system is constructed in accordance with Fuzzy-Delphi approach, composed of 21 significant sub-criteria from the aspects of profitability capacity, development capacity, safety production capacity, electricity supply reliability, outstanding service provision, energy conservation, and environmental protection. The sub-criteria weights are computed by combining subjective weights determined by BWM and objective weights computed by the entropy weight calculation approach. The comprehensive performance evaluation model is established based on VIKOR. As the electricity grid corporation A is superior in profitability capacity (especially in electricity sales amount) and safety production capacity criterion, it is superior over other four electricity grid corporations. The established novel MCDM is practical and rational, which is applicable for electricity grid corporations' comprehensive performance evaluation.

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Evaluating the performance of thermal power enterprises using sustainability balanced scorecard, fuzzy Delphic and hybrid multi-criteria decision making approaches for sustainability

Cited by 57 publications

References 31 publications

An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

Selecting the Optimal Micro-Grid Planning Program Using a Novel Multi-Criteria Decision Making Model Based on Grey Cumulative Prospect Theory

Comprehensive Performance Evaluation of Electricity Grid Corporations Employing a Novel MCDM Model

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