Modifying the Balanced Scorecard for a Network Industry - The Case of the Clearing Industry
Proceedings of the 9th IFIP Conference on e-Business, e-Services, and e-Society (I3E 2009)
19 Pages Posted: 15 Sep 2009 Last revised: 16 Mar 2011
Date Written: September 1, 2009
Abstract
The Balanced Scorecard is a well-established tool for the management of a company as it integrates financial and non-financial perspectives. However, little attention has been given to its theoretical and conceptual valuation. We illustrate how the stakeholder value theory corresponds with the concept of the Balanced Scorecard and show the importance of underlying cause-and-effect relationships between its perspectives. For the case of the European clearing industry, which is currently facing profound changes, we present a three-phased approach how to adjust and to extend Kaplan and Norton’s original concept. We modify the generic Balanced Scorecard by adding risk management as a separate perspective and by integrating competition and IT. Based on multiple case studies, we then validate whether the modified Balanced Scorecard is suited to meet the specifics of the clearing industry.
Keywords: Performance Measurement, Clearing, Network Industry
JEL Classification: G1, L2
Suggested Citation: Suggested Citation
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