The First Step to the Successful Implementation of a Balanced

question 128

Multiple Choice

The first step to the successful implementation of a balanced scorecard is specifying the:

• A) organization's vision and strategy.
• B) elements that pertain to value-added aspects of the business.
• C) owner's expectations about return on investment.
• D) objectives of all four balanced scorecard measurement perspectives.

---

Definitions:

Strategic Planning

Strategic Planning refers to the process organizations use to define their strategy, direction, and make decisions on allocating resources to pursue this strategy, including capital and people.

Short-Term Forecasts

Financial predictions that cover a short time period, typically less than a year, used for budgeting, planning, and managing immediate cash flows.

Small Business Plans

Strategic documents outlining the business model, goals, financial forecasts, market analysis, and operational strategies for small companies.

Detailed Revenue Targets

Specific, granular goals set for the income that a company aims to generate within a certain period.