The Steps for Implementing a Balanced Scorecard

question 19

Multiple Choice

The steps for implementing a balanced scorecard:

• A) Should be customised for individual organisations.
• B) Should not vary if the implementation is to be effective.
• C) Are different in for-profit and not-for-profit organisations.
• D) Begin with developing measures in each perspective.

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Definitions:

Cost Overruns

Expenses exceeding the initial budget in a project, often resulting in financial challenges or the need for additional funding.

Service Definition

The detailed description of the nature, scope, and quality of a service that is to be provided.

Overall Costs

The total expenses incurred by an organization in its operations, including direct, indirect, fixed, and variable costs.

Non-Core Work

Tasks or activities that are not essential to the primary business or objectives of an organization but may still be necessary for operations.