Abstract
In addition to retaining high levels of customer satisfaction, sustainability of businesses is also heavily reliant on the efficiency of their internal and external processes. Continuous performance evaluations using key performance metrics to leverage operations are essential in maintaining a sustainable business while achieving growth objectives for revenue and profitability. Traditionally, companies have considered various financial criteria, quality characteristics, and targeted levels of service as their primary factors for performance evaluation. However, increasing environmental and social awareness and accompanying governmental legislations are now requiring companies to integrate these two aspects into their performance evaluations. With this motivation, this study proposes a Balanced Scorecard (BSC)-based approach combining Decision-Making Trial and Evaluation Laboratory (DEMATEL) and Analytic Network Process (ANP) methodologies for performance evaluation. The grey system theory has been utilized in order to capture the vagueness and the uncertainty in decision making. To demonstrate the functionality of the approach, a case study is conducted on a U.S.-based food franchise. The results of the algorithm and a discussion elaborating on the findings are provided.
Highlights
The food industry has always been one of the essential contributors to the United States economy
Aiming at filling this gap, this study proposed an integrated approach combining social, environmental, and economic aspects together in the performance evaluation system of a fast food restaurant company
A Balanced Scorecard based Grey-DEMATEL-based ANP (DANP) approach is applied to reveal the influences among the evaluation criteria and rank them with respect to their importance weights
Summary
The food industry has always been one of the essential contributors to the United States economy. The USDA (U.S Department of Agriculture) Economic Research Services stated that in 2016, with a 12.6% share, the food and related industries ranked third after housing (33%) and transportation (15.8%) in a typical American household’s expenditures [1]. According to the U.S Bureau of Economic Analysis report published in the same year, the contribution of the food services and drinking places contributed to the Gross Domestic Product (GDP) 400.7 billion dollars [2]. With a 227.3 billion dollar revenue in 2016, the fast food industry obtained the highest share in this market with an expect annual growth rate of 1.8% in the following 5 years [3]. Increasing focus on societal well-being has shaped the business strategies in other aspects resulting in fast food retailers making community involvement, local supplier support, environmentally benign operations more visible in their business strategies
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