Which of the following best describes a balanced scorecard? A) Internal assessment tool B) Provides key performance indicators C) Turns strategy into action D) All of these answer choices are correct.
Question
Which of the following best describes a balanced scorecard? A) Internal assessment tool B) Provides key performance indicators C) Turns strategy into action D) All of these answer choices are correct.
Solution
D) All of these answer choices are correct.
A balanced scorecard is a strategic planning and management system that organizations use to:
A) Internally assess their performance in relation to their strategic objectives (Internal assessment tool).
B) Provide key performance indicators (KPIs) that help organizations measure their progress towards achieving their strategic objectives.
C) Turn strategy into action by providing a clear, concise view of what an organization must do to create and sustain value in the future.
Similar Questions
Which of the following is the primary aim of the Balanced Scorecard framework?Group of answer choicesPut less emphasis on non-financial measures because they are too narrowly focused.Use performance measures that are highly objective.Translate an organization's strategy into measurable performance indicators.
The ______ perspective of the balanced scorecard approach examines such metrics as productivity, efficiency, quality, and safety.Multiple choice question.internal businessfinancialcustomerinnovation and learning
Which one of these perspectives is not used by the balanced scorecard?Group of answer choicesCustomer.Innovation and improvement activities.Employee.Financial.
What are the indicators that make up the balanced scorecard?Multiple select question.Innovation and improvement activitiesFinancial measuresEmployee engagementInternal processesCustomer satisfaction
The balanced scorecard is a unique system of performance measures in that it: (Check all that apply.)Multiple select question.has financial and nonfinancial measures.can only be used by small companies.has multiple perspectives.has key indicators measured by all companies.has a focus on customer satisfaction.
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