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:

Hierarchical Organisations

Organizations structured in a way that positions individuals or groups in layers of authority, ranked above or below each other.

Subordinates

Employees or team members who are ranked lower in the organizational hierarchy and report to supervisors or managers above them.

Efficient Communication

Occurs at minimum cost.

Bulletin Board

A physical or digital board used for posting messages, announcements, or information for public viewing.