Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming
Optimal financial planning plays a vital role in maintaining concentration and on the path as the organization extends, when new challenges materialize, and when unpredictable situations pounded. This study aims to develop and implement a goal programming model to evaluate financial planning based o...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-12-01
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| Series: | Applied System Innovation |
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| Online Access: | https://www.mdpi.com/2571-5577/5/6/128 |
| _version_ | 1797461564173844480 |
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| author | Teg Alam |
| author_facet | Teg Alam |
| author_sort | Teg Alam |
| collection | DOAJ |
| description | Optimal financial planning plays a vital role in maintaining concentration and on the path as the organization extends, when new challenges materialize, and when unpredictable situations pounded. This study aims to develop and implement a goal programming model to evaluate financial planning based on the annual financial report of Saudi Basic Industries Corporation (SABIC), which assisted it in developing the financial planning model. This study is mainly designed to analyze SABIC’s budgeting structure; therefore, in order to maximize the benefits from the whole budget, goal programming is implemented for the entire budget. As a result of this study, we identified the following objectives as specific: reduced expenses, increased revenue, increased net profit, increased fixed assets, reduced debt, and increased equity share participation as a result of this project. Moreover, the analysis involved determining whether all objectives were met at the end of the study. Consequently, this study will benefit industrial institutions in achieving their financial objectives. |
| first_indexed | 2024-03-09T17:21:11Z |
| format | Article |
| id | doaj.art-7dae5bd73b1949b5a793692f36a4e225 |
| institution | Directory Open Access Journal |
| issn | 2571-5577 |
| language | English |
| last_indexed | 2024-03-09T17:21:11Z |
| publishDate | 2022-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Applied System Innovation |
| spelling | doaj.art-7dae5bd73b1949b5a793692f36a4e2252023-11-24T13:10:02ZengMDPI AGApplied System Innovation2571-55772022-12-015612810.3390/asi5060128Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal ProgrammingTeg Alam0Department of Industrial Engineering, College of Engineering, Prince Sattam Bin Abdulaziz University, Al Kharj 11942, Saudi ArabiaOptimal financial planning plays a vital role in maintaining concentration and on the path as the organization extends, when new challenges materialize, and when unpredictable situations pounded. This study aims to develop and implement a goal programming model to evaluate financial planning based on the annual financial report of Saudi Basic Industries Corporation (SABIC), which assisted it in developing the financial planning model. This study is mainly designed to analyze SABIC’s budgeting structure; therefore, in order to maximize the benefits from the whole budget, goal programming is implemented for the entire budget. As a result of this study, we identified the following objectives as specific: reduced expenses, increased revenue, increased net profit, increased fixed assets, reduced debt, and increased equity share participation as a result of this project. Moreover, the analysis involved determining whether all objectives were met at the end of the study. Consequently, this study will benefit industrial institutions in achieving their financial objectives.https://www.mdpi.com/2571-5577/5/6/128goal programmingfinancial planningdecision makingindustry |
| spellingShingle | Teg Alam Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming Applied System Innovation goal programming financial planning decision making industry |
| title | Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming |
| title_full | Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming |
| title_fullStr | Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming |
| title_full_unstemmed | Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming |
| title_short | Modeling and Analyzing a Multi-Objective Financial Planning Model Using Goal Programming |
| title_sort | modeling and analyzing a multi objective financial planning model using goal programming |
| topic | goal programming financial planning decision making industry |
| url | https://www.mdpi.com/2571-5577/5/6/128 |
| work_keys_str_mv | AT tegalam modelingandanalyzingamultiobjectivefinancialplanningmodelusinggoalprogramming |