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Balanced Scorecard

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IGC-DEFINITION (abbreviated)

Balanced Scorecard / Balanced Scorecard
As the term implies, the Balanced Scorecard should allow a balanced control with the help of ratios or indicators and thus should be integrated in reporting. Traditional reporting systems focus almost exclusively on financial and profit ratios – while the Balanced Scorecard also takes non-financial elements (e.g. ‘Number of new customers acquired’) into account when evaluating results. Special attention is given to the relative importance of the different ratios or indicators as the Balanced Scorecard does not only concentrate on the ratio figures themselves, but mainly focuses on management’s realisation of the objectives according to the organization’s formulated strategies.

In its classic form, the Balanced Scorecard is built with four perspectives of control in mind:

  • Financial and value perspective
  • Market and customer perspective
  • Process perspective
  • Knowledge and innovation perspective.

from: IGC-Controller-Wörterbuch, International Group of Controlling (Hrsg.)


IGC-Controller-Wörterbuch, International Group of Controlling (Hrsg.), 4. Auflage, Schäffer-Poeschel, Stuttgart, 2010

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