Performance Evaluation Model using the Balanced Scorecard and Fuzzy TOPSIS integrated approach BSC-FTOPSIS
Subject Areas :Keywords: Performance Evaluation, Balanced Scorecard, FTOPSIS,
Abstract :
ABSTRACT The present paper aims at presenting an incorporative fuzzy approach towards evaluating of performance using Balanced Scorecard (BSC). To do so, first, based on the data collected from evaluating the components of strategic management, main objectives, key factors of success, and performance evaluation indices are identified. Next, using TOPSIS fuzzy method, the indices are prioritized and ranked so the indices with the highest impact on performance evaluation are identified and classified in the form of balanced scorecards. 29 people from among the elite, chiefs and key experts filled out a questionnaire, in order to achieve the goals of the study. The validity of the questionnaire was confirmed through the experts, and its reliability was defined using Cronbach's alpha (0.89%). At the end, the proposed model was executed in a branch of Saderat Bank in Tehran. The application of the improvisations resulted in the improvement in almost all defined indices, i.e., the Total Performance Index for the studied organization was 72.38% by April, 2015 (based on the last three months prior to that), which was raised to reach 79.16% three months after executing the model (the end of July, same year).
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