Before a Balanced Scorecard Can Be Developed, Managers Must

question 68

Multiple Choice

Before a balanced scorecard can be developed, managers must

• A)be clear about the strategy they are trying to achieve.
• B)understand the lagging and leading indicators that affect operations.
• C)utilize a performance dashboard to develop operational goals.
• D)utilize SMART measures.

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Definitions:

Public Choice Theory

An economic theory that explores how public decisions are made, emphasizing the self-interest of voters, politicians, and bureaucrats.

Special Interest Groups

Organizations that advocate for specific causes or interests, influencing public policy and opinion.

Infant-Industry

An industry in its early stages within a particular country, often argued to need protection from international competition until it becomes competitive.

Tariffs

Taxes imposed by a government on imported goods, affecting their price and availability within the domestic market.