Proposing a new integrated model based on sustainability balanced scorecard (SBSC) and MCDM approaches by using linguistic variables for the performance evaluation of oil producing companies

• The balanced scorecard (BSC) approach is a performance evaluation technique.
• The BSC method can be combined with sustainable development factors.
• The ANP technique is capable of formulating the interdependency among criteria.
• COPRAS method is an appropriate tool for evaluation alternatives.
• Combination of the ANP and COPRAS is a new powerful for making a decision.

Using the balanced scorecard approach based on sustainable development parameters is a powerful and useful methodology to evaluate the sustainable performance of organization or company. In this paper, a new approach based on sustainability balanced scorecard (SBSC) and multi criteria decision making (MCDM) approaches is developed for evaluating the performance of oil producing companies in Iran. For reflecting the interdependent relationships among factors influencing the problem under consideration, analytical network process (ANP), a branch of the MCDM techniques, is employed. However, using the ANP method for calculating the preference ratings of alternatives is a time-consuming and bothersome process; therefore, COPRAS (COmplex PRoportional ASsessment) technique is adopted to prioritize the feasible alternatives in terms of linguistic variables. Based on this study, the results demonstrate the effectiveness of the proposed model. The performance evaluation model proposed by using a combination of the MCDM methods and the SBSC approach helps authorities to make an attempt for achieving a competitive advantage.