In Designing a Balanced Scorecard Approach for Its Operations, a Company

question 106

Multiple Choice

In designing a balanced scorecard approach for its operations, a company should

• A)seek to determine as much detail as possible from its activities.
• B)be readily available as a discussion tool between management and shareholders.
• C)attempt to link performance measures on a cause and effect basis.
• D)eliminate any financial results as these will be dealt with in.

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Definitions:

Recruitment And Selection

The process of identifying, attracting, interviewing, selecting, and hiring employees.

Strategic Plan

A forward-looking document that outlines an organization's vision, mission, goals, and the strategies it will use to achieve them.

Balanced Scorecard

The Balanced Scorecard is a strategic planning and management system that organizations use to align business activities to the vision and strategy, improve internal and external communications, and monitor performance against strategic goals.

SWOT Analysis

A strategic planning technique used to identify an organization's Strengths, Weaknesses, Opportunities, and Threats.