scholarly journals Ranking Strategic Objectives in a Strategy Map Based on Logarithmic Fuzzy Preference Programming and Similarity Method

2019 ◽  
Vol 27 (3) ◽  
pp. 153-161
Author(s):  
Hossein Safari ◽  
Ehsan Khanmohammadi ◽  
Meysam Maleki ◽  
Virgilio Cruz-Machado ◽  
Eduard Shevtshenko
Keyword(s):  
Strategy Implementation ◽  
Decision Makers ◽  
Efficient Tool ◽  
Analysis Problem ◽  
Strategic Objectives ◽  
Strategy Maps ◽  
Strategy Map ◽  
Multi Criteria Analysis ◽  
Similarity Method ◽  
Fuzzy Preference

AbstractThis paper aims to rank strategic objectives in a strategy map to improve the efficiency of strategy implementation. Objectives are ranked based on strategic destinations using the combination of Logarithmic Fuzzy Preference Programming (LFPP) and similarity method. In the first step, the weight of strategic destinations is obtained using LFPP technique; then objectives are ranked by similarity method. Similarity method uses the concept of alternative gradient and magnitude for effectively solving the general multi-criteria analysis problem. Finally, objectives are ranked in an actual strategy map. As a practical and efficient tool, the proposed approach can assist managers and decision-makers in drawing more efficient output from strategy maps.

A method for designing strategy maps using DEMATEL and linear programming

2017 ◽  
Vol 55 (8) ◽  
pp. 1802-1823 ◽  
Author(s):  
Héctor López-Ospina ◽  
Luis E. Quezada ◽  
Ricardo A. Barros-Castro ◽  
Miguel A. Gonzalez ◽  
Pedro I. Palominos
Keyword(s):  
Decision Making ◽  
Linear Programming ◽  
Optimization Model ◽  
Decision Makers ◽  
Decision Making Process ◽  
Content Type ◽  
Strategic Objectives ◽  
Strategy Maps ◽  
Strategy Map ◽  
A Company

Purpose The purpose of this paper is to propose a quantitative methodology for the identification of the causal relationships between strategic objectives in a strategy map of a balanced scorecard. This is done to face the possible weaknesses described in the literature regarding the causal links and the difficulty in validating the relationships. Design/methodology/approach The proposed method combines the multi-criteria decision-making method called decision-making trial and evaluation laboratory (DEMATEL) and an optimization model. DEMATEL is used to establish the importance of the strategic relations between strategic objectives, and the optimization model is used to find the relations that are more “important” and should be included in the strategy map. The method was created by reviewing the existing literature, modeling the problem, and applying it in a company. Findings The most important results of applying this methodological design include that the proposed method maintains the BSC classical structure; it also enables the generation of several alternatives to support the decision-making process in terms of strategic objectives for a better organizational performance. Practical implications The method facilitates the decision-making process by presenting several alternatives of strategy maps according to different levels of organizational criteria. In fact, these alternatives help the organization in focusing on the most important aspects of the strategy map. Consequently, managers may identify where to pay more attention and resources in order to achieve the most important objectives of the company. Hence, this method, as a support for decision makers, enables (and requires) the active participation of senior managers and any kind of decision makers in creating and valuating objectives, relations, constraints, importance, and parameters of the optimization model. Originality/value DEMATEL has been used to design strategy maps. The contribution of the paper is the use of a linear programming model to select those relationships that should be included in the strategy map. It allows manager to focus on those strategic elements that are important from a strategic point of view. The application in a company showed that the contribution is not only theoretical but practical as well.

Determining quantitative targets for performance measures in the balanced scorecard method using response surface methodology

2018 ◽  
Vol 56 (9) ◽  
pp. 2006-2037 ◽  
Author(s):  
Sorour Farokhi ◽  
Emad Roghanian
Keyword(s):  
Response Surface Methodology ◽  
Performance Evaluation ◽  
Response Surface ◽  
Performance Measures ◽  
Balanced Scorecard ◽  
Decision Makers ◽  
Content Type ◽  
Strategic Objectives ◽  
Strategy Map ◽  
Optimal Values

Purpose The purpose of this paper is to propose a quantitative methodology for setting targets in the framework of Balanced Scorecard (BSC) in order to achieve vision and goals. Design/methodology/approach Response Surface Methodology is proposed to find the significant relationships that should be included in the strategy map and the optimal values of performance measures are assessed by using the desirability function-based approach of RSM. The proposed method was created by reviewing the existing literature, modeling the problem, and applying it in an oil company. In fact, RSM is used to execute the design matrix, analyze the collected data, extract models, analyze the results, and optimize the procedures that generate multiple responses. Findings By applying this methodological design, a clearer picture of the relationships between strategic objectives is obtained and the influence of strategic objectives on one another is determined. Afterward, optimal values for performance measures are determined. Research limitations/implications This paper proposes a framework for constructing a strategy map and setting quantitative targets to translate the goals and strategies into corresponding performance measures and targets. Also, this paper presents a case study to demonstrate the applicability and effectiveness of the proposed approach. However, RSM-based techniques require a greater amount of data to generate more accurate results. Although the advent of the Information Age has forced organizations’ decision makers to provide sufficient information and data for business analysis, the data requirements of RSM-based techniques are met. Practical implications In practice, the process of setting targets for performance measures can be challenging in terms of reaching a consensus between managers and decision makers. The findings of this paper can offer a new approach for performance evaluation based on the BSC which allows the organization’s decision makers to reach a more accurate picture of the relationship model between organization goals and those objectives within the BSC. It also demonstrates how decision makers can be guided in the process of defining performance target values in the BSC method. Originality/value Reviewing the literature on setting quantitative targets within the framework of the BSC showed no prior study in which RSM is used. This approach has two main contributions: the associations among strategic objectives are investigated and obtained in an effective way which analytically identifies the direction and degree of the relations among the performance measures. Considering the performance evaluation structure based on the BSC, quantitative targets have been determined to help in achieving the long-term goals of the organization. The application of the proposed method in a company showed that the contributions of this research are not only theoretical, but practical as well.

Quantitative target setting in balanced scorecard method using simultaneous equations system and goal programming

2019 ◽  
Vol 69 (9) ◽  
pp. 2089-2118
Author(s):  
Sorour Farokhi ◽  
Emad Roghanian ◽  
Yaser Samimi
Keyword(s):  
Goal Programming ◽  
Balanced Scorecard ◽  
Simultaneous Equations ◽  
Decision Makers ◽  
Programming Method ◽  
Content Type ◽  
Strategic Objectives ◽  
Strategy Map ◽  
Simultaneous Equations System

Purpose The purpose of this paper is to identify the accurate cause and effect relationships among strategic objectives and also to demonstrate how decision makers can be guided in the process of defining quantitative strategic target values in the framework of balanced scorecard (BSC) and performance measurement system. Design/methodology/approach Based on the proposed method in this research, after determining strategic objectives and developing an initial strategy map according to decision makers’ opinions, simultaneous equations system (SES) was used to determine the significance of the relationships among strategic objectives in higher perspectives of the BSC and corresponding strategic objectives in lower perspectives. Afterward, desirable values for performance measures were determined based on the equations and relationships obtained through SES and were optimized by goal programming method. Findings By applying the proposed method, a clearer picture of the associations among strategic objectives is obtained and the influence of strategic objectives on one another is determined. Afterward, optimal values for strategic objectives are determined to achieve the organization’s goals. Research limitations/implications This paper proposes a framework for constructing a strategy map and setting quantitative targets in the framework of BSC. Indeed, this paper presents a case study to demonstrate the applicability and effectiveness of the proposed approach. However, SES technique requires a greater amount of data to generate more accurate results. Although the advent of the Information Age has forced organizations’ decision makers to provide sufficient information and data for business analysis, the data requirements are met. Practical implications The presented quantitative approach is a supporting approach for improving decision makers’ opinions and enabling them to reach a more accurate picture of the relationships, valuing strategic objectives and achieving strategic goals. This research also presents a case study to demonstrate the applicability of the proposed approach. The application and implication of the proposed method in banking services show that the contributions of the paper are not only theoretical, but also practical. Originality/value The proposed method provides a novel approach for determining the most appropriate targets and applies a comprehensive and scientific model together with decision makers’ opinions and experiences and has two main contributions: first, the associations among strategic objectives are investigated and obtained in an effective way by conducting the SES for the first time in the framework of BSC. Second, quantitative targets have been determined to help in achieving the long-term goals. This task has been accomplished through a combination of SES, the three-stage least squares regression analysis and optimization by using weighted goal programming method.

scholarly journals Mediating Effects between Perspectives in Strategy Maps

2019 ◽  
Vol 9 (1) ◽  
pp. 14
Author(s):  
Iman Adeinat
Keyword(s):  
Organizational Performance ◽  
Business Process ◽  
Postal Service ◽  
Strategic Objectives ◽  
Strategy Maps ◽  
Customer Perspective ◽  
Strategy Map ◽  
Process Perspective ◽  
Internal Business Process ◽  
The Relationship

Many researchers have highlighted the importance of strategy maps for improving organizational performance and providing an entire organization with a cognitive representation of its strategic objectives. However, arguing that strategy maps do not assign weight to each perspective, other researchers have generated weighted strategy maps and used various optimization models to highlight the most important perspective. In this study, I argue that organizations should understand all the causal links in a strategy map and explore paths toward improvement rather than focusing on just one perspective. To that end, I analyse all the causal relationships in the strategy map developed for a major postal service in Saudi Arabia and identify two principal mediating relationships: (1) the relationship between the learning and growth perspective and the customer perspective as mediated by the internal business process perspective and (2) the relationship between the internal business process perspective and the financial performance perspective as mediated through the customer perspective.

Decision making based on intuitionistic fuzzy preference relations with additive approximate consistency

2020 ◽  
Vol 39 (3) ◽  
pp. 4041-4058
Author(s):  
Fang Liu ◽  
Xu Tan ◽  
Hui Yang ◽  
Hui Zhao
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Real Interval ◽  
Preference Relations ◽  
Intuitionistic Fuzzy ◽  
Proposed Model ◽  
Fuzzy Preference Relations ◽  
Novel Concept ◽  
Fuzzy Weights ◽  
Fuzzy Preference

Intuitionistic fuzzy preference relations (IFPRs) have the natural ability to reflect the positive, the negative and the non-determinative judgements of decision makers. A decision making model is proposed by considering the inherent property of IFPRs in this study, where the main novelty comes with the introduction of the concept of additive approximate consistency. First, the consistency definitions of IFPRs are reviewed and the underlying ideas are analyzed. Second, by considering the allocation of the non-determinacy degree of decision makers’ opinions, the novel concept of approximate consistency for IFPRs is proposed. Then the additive approximate consistency of IFPRs is defined and the properties are studied. Third, the priorities of alternatives are derived from IFPRs with additive approximate consistency by considering the effects of the permutations of alternatives and the allocation of the non-determinacy degree. The rankings of alternatives based on real, interval and intuitionistic fuzzy weights are investigated, respectively. Finally, some comparisons are reported by carrying out numerical examples to show the novelty and advantage of the proposed model. It is found that the proposed model can offer various decision schemes due to the allocation of the non-determinacy degree of IFPRs.

Leveraging blockchain based decentralized apps for the Tokyo Olympics amid the COVID-19 pandemic

First Monday ◽  
2021 ◽  
Author(s):  
Rishi Sabarigirisan ◽  
Aditi Biswas ◽  
Ridhi Rohatgi ◽  
Shyam KC ◽  
Shekhar Shukla
Keyword(s):  
Public Health ◽  
Health And Safety ◽  
Well Being ◽  
Decision Makers ◽  
Contact Tracing ◽  
Strategic Objectives ◽  
Crowd Management ◽  
Blockchain Technology ◽  
Smooth Contact ◽  
Public Health And Safety

The COVID-19 pandemic has induced a cloud of uncertainty over the mega sports event, the 2021 Tokyo Olympics. Cancelling or re-scheduling the event could have serious repercussions on the economic, social and environmental well-being for the involved stakeholders. Thus, it becomes critical to conduct events of this magnitude by adopting appropriate public health measures. In this research, we primarily focus on two main premises relative to public health and safety, contact tracing and crowd management. We explore and evaluate the usability of blockchain based decentralized apps in crowd management and contact tracing for the Tokyo Olympics using value-focused thinking (VFT). A VFT framework aids in narrowing fundamental and strategic objectives that need to be addressed for smooth contact tracing and crowd management by understanding stakeholder viewpoints. We established an equivalence of the objectives identified through VFT with blockchain technology properties. Further, we also present a conceptual ideation of contact tracing and crowd management through blockchain based decentralized apps for the Tokyo Olympics. This work could potentially assist decision-makers, researchers and stakeholders involved in organizing the Tokyo Olympics in understanding and analysing the utility of blockchain based decentralized apps for crowd management and contact tracing.

Enterprise Architecture for Accounting and Finance Transformation: Using Strategy Maps to Develop High-Performance Finance

2020 ◽  
Author(s):  
Daniel E. O'Leary
Keyword(s):  
Information Systems ◽  
High Performance ◽  
Enterprise Architecture ◽  
Financial Information ◽  
Limited Attention ◽  
Strategy Formulation ◽  
Accounting Information Systems ◽  
Strategy Maps ◽  
Strategy Map ◽  
Finance Function

Although enterprise architecture is evolving into a multiple billion-dollar business, it has received limited attention in the accounting information systems literatureRecently, The Hartford implemented a unique and robust approach that used Kaplan and Norton’s well known “strategy maps” as part of the enterprise architecture process to transform the finance department and embed strategy into accounting and finance.  The Hartford developed a strategy map and used that map as the basis of enterprise architecture integration. The process generated a creative future state that included a linear flow of information that mirrored the information life cycle, while providing a “single source of truth” archive for financial information in order to redesign the finance function to attain “high performance finance.”  In so doing, the paper investigates a unique approach, an “innovative practice,” that allows grounding accounting and financial information systems in an organization’s strategy formulation process.

Two-Decision-Maker Conflict Resolution with Fuzzy Preferences

2014 ◽  
Vol 2 (2) ◽  
pp. 40-59
Author(s):  
Mubarak S. Al-Mutairi
Keyword(s):  
Fuzzy Logic ◽  
Conflict Resolution ◽  
Decision Maker ◽  
Decision Makers ◽  
Fuzzy Approach ◽  
Model Uncertainties ◽  
Preference Information ◽  
Fuzzy Preferences ◽  
Illustrative Application ◽  
Fuzzy Preference

A unique fuzzy approach is developed to model uncertainties in the preferences of a decision maker involved in a conflict. Human judgments, including expressing preferences over a set of feasible outcomes or states in a conflict, are usually imprecise. Situations characterized by vagueness, impreciseness, incompleteness and ambiguity, are often reflected in the decision maker's preferences. When modeling a conflict, it is assumed that the decision makers, the courses of actions available for each, and the preferences of each decision maker are known. When the preferences of the decision maker over a certain set of actions are not known with certainty, this could affect the overall equilibria which are predicted in an analysis. Hence, fuzzy logic is used to handle imprecise or vague preference information so that realistic equilibria can be found. The well-known game of Prisoner's Dilemma, in which one must decide whether or not to cooperate, is employed as an illustrative application to demonstrate how the fuzzy preference methodology works in practice.

Strategic Objectives of CoPs and Organizational Learning

2011 ◽  
pp. 497-501
Author(s):  
Diane-Gabrielle Tremblay
Keyword(s):  
Organizational Learning ◽  
Communities Of Practice ◽  
Specific Form ◽  
Point Of View ◽  
Decision Makers ◽  
Work Processes ◽  
Organizational Processes ◽  
Strategic Objectives ◽  
Informal Relations ◽  
Forms Of Knowledge

There is more and more interest in different forms of knowledge creation and management, and the conditions necessary to succeed in such initiatives from the point of view of individuals and organizations. A great deal of this interest stems from the fact that organizations expect substantial gains from knowledge. Knowledge management is seen in many organizations as a source of potential competitiveness and innovation. The concept of communities of practice stems from this interest, but is viewed as a specific form of knowledge development, in principle more centred on the individuals and their exchanges than on “management” by the firm, although the firm does seem to have a role to play in fostering such initiatives. Thus, the use of communities of practice has emerged as a way to develop collective skills and organizational learning, in order to foster innovation and success for the organization. Organizational learning is part of a broader concern related to the development of collective skills. We know that a large proportion of effective relations within organizations are informal, a characteristic that relates to the concerns of the communities of practice, which are usually based on informal relations. Organizational learning goes beyond individual learning, which can lead to relatively permanent changes in the individual’s behavior, because it results in the development of a knowledge base which could translate into a more significant change of another kind within the organization. The knowledge is disseminated throughout the organization, is transmissible between members, is subject to consensus, and is integrated into the work processes and the structures of the organization. From this perspective, organizational learning is closely linked with “meaningful” organizational processes, which are basically routines used by decision makers to detect certain problems, define priorities, find solutions, and attempt to improve performance. In this article, we will present research results on some strategic objectives of CoPs and the attainment of these objectives, from the viewpoint of organizational learning.

Strategy maps: the essential link between the balanced scorecard and action

2015 ◽  
Vol 36 (2) ◽  
pp. 34-40 ◽  
Author(s):  
Rainer Lueg
Keyword(s):  
Balanced Scorecard ◽  
Strategy Execution ◽  
Content Type ◽  
Strategy Maps ◽  
The Balanced Scorecard ◽  
Top Managers ◽  
Action Strategy ◽  
Recent Developments ◽  
Balanced Scorecards ◽  
Strategy Map

Purpose – The purpose of this paper is to show how the use of Strategy Maps substantially improves the implementation success of balanced scorecards (BSC). The BSC is supposed to translate strategy into action. Strategy maps support this by showing cause-and-effect chains. But what does this mean for strategy execution in practice? To achieve better BSC implementations, the author uncovers pitfalls and names the remedies. Design/methodology/approach – The author summarizes the most important findings from initially over 1,000 studies that have dealt with the BSC from 1992 to 2012. Findings – BSC implementations that use a sophisticated Strategy Map appear to be successful. Strategy maps foster a better understanding of the BSC among employees, create greater commitment and less resistance and are superior to the BSC itself in communicating how to achieve strategic goals. Also, strategy maps facilitate managers’ evaluation of the relevant environment. Nevertheless, the common measure bias is a usual pitfall: top managers have a tendency to use their own strategic targets as a yardstick for lower-level employees. Originality/value – This paper helps managers understand the most recent developments on strategy maps. In particular, the author highlights that causalities do not exist in organizations in the same way as there are “laws” in physics. Instead, organizations need to customize their BSC to their way of doing business.

Sign in / Sign up

Export Citation Format

Share Document