Thin-film organic solar cell (OSC) performances have been investigated in detail by improved analytical computation in this work. The generation of excitons inside OSC has been estimated by using the optical transfer matrix method (OTMM) to include the optical phenomena of the incident light. The dissociation of these excitons into free charge carriers has been investigated to find the most appropriate one. OSC performances have been evaluated by an improved analytical solution of electrical transport equations including (i) exciton generation obtained from OTMM, (ii) dissociation probability incorporating Gaussian distribution to account for the natural fact of the difference in photon-energy producing excitons, (iii) recombination of charge carriers, all together. OSC properties such as JSC, VOC, FF, PCE, Pmax, absorbance, and quantum efficiency have been investigated with the variation of different parameters; this might be useful to improve OSC. Again, the presented detailed derivations of analytical expressions would be helpful for clear understanding.