An efficient resource allocation in strategic management using a novel hybrid method

© 2016, © Emerald Group Publishing Limited. Purpose – The purpose of this paper is to suggest a novel hybrid method by integrating a decision sciences approach with balanced scorecard (BSC) in order to scientifically enable the efficient strategic management of an organization under limited resource...

Full description

Saved in:
Bibliographic Details
Main Author: Wudhikarn R.
Format: Journal
Published: 2017
Online Access:https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84982908327&origin=inward
http://cmuir.cmu.ac.th/jspui/handle/6653943832/41644
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Chiang Mai University
id th-cmuir.6653943832-41644
record_format dspace
spelling th-cmuir.6653943832-416442017-09-28T04:22:31Z An efficient resource allocation in strategic management using a novel hybrid method Wudhikarn R. © 2016, © Emerald Group Publishing Limited. Purpose – The purpose of this paper is to suggest a novel hybrid method by integrating a decision sciences approach with balanced scorecard (BSC) in order to scientifically enable the efficient strategic management of an organization under limited resources. The proposed research model endeavors to improve critical basis deficiencies of the original BSC as well as formerly improved forms of BSC by appropriately integrating three disparate methods: BSC, analytic network process (ANP), and zero-one goal programming (ZOGP). Design/methodology/approach – The designed approach is separated into three major parts. At first, the traditional BSC, concentrating on both financial and intellectual capital, was adopted as the strategic management framework, and then priorities as well as the importance of tactical drivers derived from BSC application were consecutively identified by the application of ANP. Finally, the study further applied the obtained results of integrated BSC and ANP to ZOGP in order to scientifically identify the optimal strategic investment under simulated constraints of the considered organization. Findings – An application of BSC, ANP, and ZOGP with a case study of an academic institution provided an improved strategic management approach for optimally and scientifically utilizing the limited resources of the organization. The suggested results indicated that only 11 of the 23 strategic projects should be executed. Moreover, the selected tactical tasks would efficiently use less than 36 percent of the strategic expenses of the traditional management approach. Originality/value – Based on the intensive literature reviews, the proposed method could be determined as a novel hybrid approach. It newly conveyed the practical management approach by innovatively including the proper decision sciences method to BSC. This improvement scientifically considered on the resource allocation process that has never been studied before in formerly improved BSC. 2017-09-28T04:22:31Z 2017-09-28T04:22:31Z 2016-08-15 Journal 00251747 2-s2.0-84982908327 10.1108/MD-08-2015-0380 https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84982908327&origin=inward http://cmuir.cmu.ac.th/jspui/handle/6653943832/41644
institution Chiang Mai University
building Chiang Mai University Library
country Thailand
collection CMU Intellectual Repository
description © 2016, © Emerald Group Publishing Limited. Purpose – The purpose of this paper is to suggest a novel hybrid method by integrating a decision sciences approach with balanced scorecard (BSC) in order to scientifically enable the efficient strategic management of an organization under limited resources. The proposed research model endeavors to improve critical basis deficiencies of the original BSC as well as formerly improved forms of BSC by appropriately integrating three disparate methods: BSC, analytic network process (ANP), and zero-one goal programming (ZOGP). Design/methodology/approach – The designed approach is separated into three major parts. At first, the traditional BSC, concentrating on both financial and intellectual capital, was adopted as the strategic management framework, and then priorities as well as the importance of tactical drivers derived from BSC application were consecutively identified by the application of ANP. Finally, the study further applied the obtained results of integrated BSC and ANP to ZOGP in order to scientifically identify the optimal strategic investment under simulated constraints of the considered organization. Findings – An application of BSC, ANP, and ZOGP with a case study of an academic institution provided an improved strategic management approach for optimally and scientifically utilizing the limited resources of the organization. The suggested results indicated that only 11 of the 23 strategic projects should be executed. Moreover, the selected tactical tasks would efficiently use less than 36 percent of the strategic expenses of the traditional management approach. Originality/value – Based on the intensive literature reviews, the proposed method could be determined as a novel hybrid approach. It newly conveyed the practical management approach by innovatively including the proper decision sciences method to BSC. This improvement scientifically considered on the resource allocation process that has never been studied before in formerly improved BSC.
format Journal
author Wudhikarn R.
spellingShingle Wudhikarn R.
An efficient resource allocation in strategic management using a novel hybrid method
author_facet Wudhikarn R.
author_sort Wudhikarn R.
title An efficient resource allocation in strategic management using a novel hybrid method
title_short An efficient resource allocation in strategic management using a novel hybrid method
title_full An efficient resource allocation in strategic management using a novel hybrid method
title_fullStr An efficient resource allocation in strategic management using a novel hybrid method
title_full_unstemmed An efficient resource allocation in strategic management using a novel hybrid method
title_sort efficient resource allocation in strategic management using a novel hybrid method
publishDate 2017
url https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84982908327&origin=inward
http://cmuir.cmu.ac.th/jspui/handle/6653943832/41644
_version_ 1681422039983849472