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An integrated approach to evaluation and planning of best practices

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  • Xu, Yan
  • Yeh, Chung-Hsing
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    Abstract

    This paper develops a new integrated evaluation and planning approach for implementing a given set of best practices in a prioritized and phased manner. The best practices are implemented for achieving lower-level business unit objectives and higher-level strategic goals of an organization. With a multiattribute decision making algorithm under the balanced scorecard (BSC) framework, a new evaluation model is developed to effectively measure the relationship between lower-level objectives and higher-level goals, and to give each best practice a relative priority value. A new adjustment method is also developed to address potential biases in the self-assessment process at the business unit level. The evaluation model enables the prioritization and implementation planning of best practices in terms of their importance and achievability from the viewpoints of the organization, four BSC strategic perspectives, individual business units, and the overall implementation planning zone. An empirical study is conducted to demonstrate the applicability and effectiveness of the integrated evaluation and planning approach.

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    Bibliographic Info

    Article provided by Elsevier in its journal Omega.

    Volume (Year): 40 (2012)
    Issue (Month): 1 (January)
    Pages: 65-78

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    Handle: RePEc:eee:jomega:v:40:y:2012:i:1:p:65-78

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    Keywords: Multicriteria evaluation Best practices Prioritization Balanced scorecard Multiattribute decision making;

    References

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    12. Demirbag, Mehmet & Tatoglu, Ekrem & Glaister, Keith W. & Zaim, Selim, 2010. "Measuring strategic decision making efficiency in different country contexts: A comparison of British and Turkish firms," Omega, Elsevier, vol. 38(1-2), pages 95-104, February.
    13. Jiménez, Antonio & Mateos, Alfonso & Ríos-Insua, Sixto, 2009. "Missing consequences in multiattribute utility theory," Omega, Elsevier, vol. 37(2), pages 395-410, April.
    14. Nicholls, Miles G. & Cargill, Barbara J., 2011. "Establishing best practice university research funding strategies using mixed-mode modelling," Omega, Elsevier, vol. 39(2), pages 214-225, April.
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    16. Geldermann, Jutta & Bertsch, Valentin & Treitz, Martin & French, Simon & Papamichail, Konstantinia N. & Hämäläinen, Raimo P., 2009. "Multi-criteria decision support and evaluation of strategies for nuclear remediation management," Omega, Elsevier, vol. 37(1), pages 238-251, February.
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    Cited by:
    1. Verdecho, María-José & Alfaro-Saiz, Juan-Jose & Rodriguez-Rodriguez, Raul & Ortiz-Bas, Angel, 2012. "A multi-criteria approach for managing inter-enterprise collaborative relationships," Omega, Elsevier, vol. 40(3), pages 249-263.
    2. Yeh, Chung-Hsing & Xu, Yan, 2013. "Managing critical success strategies for an enterprise resource planning project," European Journal of Operational Research, Elsevier, vol. 230(3), pages 604-614.
    3. Amado, Carla A.F. & Santos, Sérgio P. & Marques, Pedro M., 2012. "Integrating the Data Envelopment Analysis and the Balanced Scorecard approaches for enhanced performance assessment," Omega, Elsevier, vol. 40(3), pages 390-403.

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