Measuring Performance Using SWOT Analysis and Balanced Scorecard

This paper presents a method to measure the performance of a company by combining Strengths-Weakness-Opportunities-Threats Analysis (SWOT analysis) and the Balanced Scorecard (BSC) through the Analytical Network Process (ANP). BSC is a strategic measurement system that has become a strategic management system. A BSC includes strategic objectives and performance indicators that are aligned with the mission and strategy of the organization. The literature in modeling a BSC using Multicriteria Decision Making Methods (MCDM) is vast. Methods such as ANP have been used for different purposes. On the other hand, Strengths-Weaknesses-Opportunities and Threats Analysis (SWOT) analysis is a methodology for analyzing a company from an internal and external perspective in order to generate strategies for the firm. It has also been modeled quantitatively in order to produce strategies. This paper presents a method that combines quantitatively BSC and SWOT analysis to assess a company. The proposed method was implemented in a company that belongs to the food industry. After the application, managers were asked about the method and the implementation process. They found that the method was useful., but time consuming. (C) 2019 The Authors. Published by Elsevier Ltd.