Fuzzy Cognitive Strategic Maps in Business Process Performance Measurement

  • Michael Glykas
Part of the Studies in Computational Intelligence book series (SCI, volume 444)

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

Performance Measurement Balanced Scorecard Fuzzy Cognitive Maps Simulation 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  • Michael Glykas
    • 1
    • 2
    • 3
  1. 1.Faculty of Business and ManagementUniversity of WallangongDubaiUnited Arab Emirates
  2. 2.Department of Financial and Management EngineeringUniversity of AegeanChiosGreece
  3. 3.Aegean TechnopolisThe Technology Park of the Aegean RegionChiosGreece

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