International Conference on Intelligent and Fuzzy Systems, INFUS 2019, İstanbul, Turkey, 23 - 25 July 2019, vol.1029, pp.944-952
© 2020, Springer Nature Switzerland AG.The Balanced Scorecard introduces solutions to the problems that arise from the failures encountered in strategic management, and the inadequacy of traditional performance management systems that lag behind in the information age, especially, with respect to today’s intensely competitive environment to which enterprises are increasingly exposed. In this study, the performance of 7 factoring and financial leasing firms listed at the Istanbul Stock Exchange (BIST) were evaluated using the Balanced Scorecard approach under 4 main criteria. Pythagorean fuzzy sets are considered as a better way to represent expert-judgments under inconsistent and indeterminate environment. After that, the TODIM methodology, which analyzes decision makers’ psychological behaviors under risk, was used to rank the firms. While the economic loyalty sub-criterion was found as the most important one, learning and growth came out as the least important one after applying interval-valued Pythagorean fuzzy AHP. Finally, factoring and financial leasing firms were ranked according to decision makers under the balanced scorecard performance criteria and followed by a sensitivity analysis.