A hybrid TOPSIS-BSC method for strategic planning
For years, tangible assets used to be the most important precious wealth of organizations. However, the recent advances in technology has changed this concept and today, intangible assets such as human resources, customers, processes are playing essential roles on making strategies. In this paper, w...
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Growing Science
2012-09-01
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Series: | Management Science Letters |
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Online Access: | http://www.growingscience.com/msl/Vol2/msl_2012_247.pdf |
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doaj-9bf07e4d6491400e92a7490222966b502020-11-25T00:32:42ZengGrowing ScienceManagement Science Letters1923-93351923-93432012-09-012828452850A hybrid TOPSIS-BSC method for strategic planningMohammad Reza ShojaeeMehdi FallahMohsen FallahFor years, tangible assets used to be the most important precious wealth of organizations. However, the recent advances in technology has changed this concept and today, intangible assets such as human resources, customers, processes are playing essential roles on making strategies. In this paper, we present a study to setup appropriate strategies using the implementation of balanced score card in four perspectives of customers, processes, learning and financial. The proposed study of this paper gathers important factors through three different brainstorming sessions and prioritize them using TOPSIS method. Based on the results of MCDM technique, selecting appropriate target market for penetration is the number one priority followed by having good accounting system and preparing for more diversified production. These are the most important items influencing strategic planning. Therefore, the study uses BSC for the first two important strategies and discusses possible actions for productivity improvement.http://www.growingscience.com/msl/Vol2/msl_2012_247.pdfBSCTOPSISStrategic planningTOPSIS-BSC |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Mohammad Reza Shojaee Mehdi Fallah Mohsen Fallah |
spellingShingle |
Mohammad Reza Shojaee Mehdi Fallah Mohsen Fallah A hybrid TOPSIS-BSC method for strategic planning Management Science Letters BSC TOPSIS Strategic planning TOPSIS-BSC |
author_facet |
Mohammad Reza Shojaee Mehdi Fallah Mohsen Fallah |
author_sort |
Mohammad Reza Shojaee |
title |
A hybrid TOPSIS-BSC method for strategic planning |
title_short |
A hybrid TOPSIS-BSC method for strategic planning |
title_full |
A hybrid TOPSIS-BSC method for strategic planning |
title_fullStr |
A hybrid TOPSIS-BSC method for strategic planning |
title_full_unstemmed |
A hybrid TOPSIS-BSC method for strategic planning |
title_sort |
hybrid topsis-bsc method for strategic planning |
publisher |
Growing Science |
series |
Management Science Letters |
issn |
1923-9335 1923-9343 |
publishDate |
2012-09-01 |
description |
For years, tangible assets used to be the most important precious wealth of organizations. However, the recent advances in technology has changed this concept and today, intangible assets such as human resources, customers, processes are playing essential roles on making strategies. In this paper, we present a study to setup appropriate strategies using the implementation of balanced score card in four perspectives of customers, processes, learning and financial. The proposed study of this paper gathers important factors through three different brainstorming sessions and prioritize them using TOPSIS method. Based on the results of MCDM technique, selecting appropriate target market for penetration is the number one priority followed by having good accounting system and preparing for more diversified production. These are the most important items influencing strategic planning. Therefore, the study uses BSC for the first two important strategies and discusses possible actions for productivity improvement. |
topic |
BSC TOPSIS Strategic planning TOPSIS-BSC |
url |
http://www.growingscience.com/msl/Vol2/msl_2012_247.pdf |
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