An Important Implication of the "Balance Scorecard" Approach Is That

question 46

Multiple Choice

An important implication of the "balance scorecard" approach is that

• A) managers need to recognize tradeoffs in stakeholder demands and realize that such demands represent a "zero-sum" game in which one stakeholder will gain only at another's loss
• B) the key emphasis on customer satisfaction and financial goals are only a means to that end
• C) managers should not look at their job as primarily balancing stakeholder demands; increasing satisfaction among multiple stakeholders can be achieved simultaneously
• D) gains in financial performance and customer satisfaction must often come at a cost of employee satisfaction

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Definitions:

Short Run

An economic phase where at least one factor, like the size of a facility, remains constant and unalterable.

Regulatory Commission

A government agency or body responsible for enforcing specific laws, regulations, and standards in various sectors, including utilities, telecommunications, and financial markets.

Pure Monopolist

A sole provider of a unique product or service with no close substitutes, giving it the ability to control market prices.