• ISSN: 2148-2225 (online)

Ulaştırma ve Lojistik Kongreleri

alphanumeric journal

The Journal of Operations Research, Statistics, Econometrics and Management Information Systems

Measuring the Performance of Retailer Firms Listed in BIST under the Balanced Scorecard Perspective by Using Interval Valued Pythagorean Fuzzy AHP Based Pythagorean Fuzzy TODIM Methodology


Namık Kemal Erdoğan, Ph.D.

Ahmet Onay, Ph.D.

Çağlar Karamaşa, Ph.D.


The philosophy behind the Balanced Scorecard is the necessity for an operator to transform non-financial criteria into data sources for the management information system, as well as financial criteria for all governance levels. 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 the information age in today's intensely competitive environment, which is pushing businesses more and more. In this study the performance of 12 retailer firms listed in BIST are measured under the balanced scorecard (BSC) perspective by handling 4 main criteria (financial, customer, internal business process and learning & growth perspectives). Pythagorean fuzzy sets (PFS) are considered in order to better represent experts’ judgments under inconsistent and indeterminate environment. Following that TODIM methodology, that analyzes decision makers’ psychological behaviors under risk, is used to rank the firms. While economic loyalty sub criterion was found as the most important one, participation in management was acquired as the least important one after applying interval valued Pythagorean fuzzy AHP. Finally, Firm F was ranked as the most successful firm according to decision makers under balanced scorecard performance criteria.

Keywords: Balanced Scorecard, Pythagorean Fuzzy AHP, Pythagorean Fuzzy Sets, Pythagorean Fuzzy TODIM

Jel Classification: C63

Suggested citation

Erdoğan, N. K., Onay, A. & Karamaşa, Ç. (). Measuring the Performance of Retailer Firms Listed in BIST under the Balanced Scorecard Perspective by Using Interval Valued Pythagorean Fuzzy AHP Based Pythagorean Fuzzy TODIM Methodology. Alphanumeric Journal, 7(2), 333-350. http://dx.doi.org/10.17093/alphanumeric.451247


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Volume 7, Issue 2, 2019


alphanumeric journal

Volume 7, Issue 2, 2019

Pages 333-350

Received: Aug. 6, 2018

Accepted: Oct. 25, 2019

Published: Dec. 31, 2019

Full Text [1.1 MB]

2019 Erdoğan, NK., Onay, A., Karamaşa, Ç.

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