The Balanced Scorecard Is a Useful Tool for Setting and Monitoring

question 32

True/False

The balanced scorecard is a useful tool for setting and monitoring performance targets for firms that pursue stakeholder goals;it is less useful for firms that seek to maximize profits over the long term.

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Definitions:

Sustainable Competitive Advantage

A unique value that an organization develops for a long period, which is not easily replicable by competitors, allowing for long-term success.

Organization

A structured group of people with specific roles and responsibilities working towards common goals.

HRM Functions

Activities performed by the Human Resources department, including recruitment, selection, training, and employee relations.