Integrating BSC and DEMATEL models for enhanced risk assessment

Abstract

This study explores the integration of two powerful tools, Balanced Scorecard (BSC) and Decision Making Trial and Evaluation Laboratory (DEMATEL), for comprehensive risk assessment and management in complex business environments. The proposed model enhances the identification of critical risks while clarifying cause-and-effect relationships within the system, thereby improving the accuracy and effectiveness of strategic decision-making. Through this integration, businesses can better navigate uncertainties and optimize management decisions.