Fuzzy cognitive strategic maps in business process performance measurement

Authors:
M. Glykas
Affiliations:
Department of Financial and Management Engineering, University of the Aegean, Greece and Aegean Technopolis, The Technology Park of the Aegean Region, Chios, Greece
Venue:
Expert Systems with Applications: An International Journal
Year:
2013

Citing 12
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Abstract

This paper elaborates on the application of Fuzzy Cognitive Maps (FCMs) in strategy maps (SMs). The limitations of the Balanced Scorecards (BSCs) and SMs are first discussed and analyzed. The need for simulated scenario based SMs is discussed and the use of FCMs as one of the best alternatives is presented. A software tool for the development, simulation and analysis of FCM based SMs is also presented. The effectiveness of the resulting software tool and FCM theory in SMs is experimented in two case studies in Banking.