A Proactive Fuzzy Cognitive Balanced Scorecard

Author

Chytas, Panagiotis ; Glykas, Michael ; Valiris, Georgo

Author_Institution

Dept. of Bus. Adm., Aegean Univ., Chios

fYear

2008

fDate

1-6 June 2008

Firstpage

1331

Lastpage

1338

Abstract

This paper describes a methodology for the development of a proactive balanced scorecard (PBSCM). The balanced scorecard is one of the most popular approaches developed in the field of performance measurement. However, in spite of its reputation, there are issues that require further research. The present research addresses the problems of the balanced scorecard by utilizing the soft computing characteristics of fuzzy cognitive maps (FCMs). By using FCMs, the proposed methodology generates a dynamic network of interconnected key performance indicators (KPI), simulates each KPI with imprecise relationships and quantifies the impact of each KPI to other KPIs in order to adjust targets of performance.

Keywords

directed graphs; fuzzy set theory; inference mechanisms; fuzzy cognitive maps; key performance indicators; performance measurement; proactive fuzzy cognitive balanced scorecard; Analytical models; Computational modeling; Conference management; Customer relationship management; Financial management; Fuzzy cognitive maps; Fuzzy systems; Measurement; Predictive models; Signal generators;

fLanguage

English

Publisher

ieee

Conference_Titel

Fuzzy Systems, 2008. FUZZ-IEEE 2008. (IEEE World Congress on Computational Intelligence). IEEE International Conference on

Conference_Location

Hong Kong

ISSN

1098-7584

Print_ISBN

978-1-4244-1818-3

Electronic_ISBN

1098-7584

Type

conf

DOI

10.1109/FUZZY.2008.4630545

Filename

4630545