A Primary Benefit of the Balanced Scorecard Is That It

question 101

True/False

A primary benefit of the balanced scorecard is that it complements financial indicators with operational measures of customer satisfaction,internal processes,and the innovation and improvement activities of the organization.

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Definitions:

Profitability

The ability of a business to earn a profit, calculated as the difference between its revenue and expenses.

Finance Manager

A professional responsible for managing an organization's financial health by planning, directing, and coordinating investments.

Balanced Scorecard

A planning and management framework that ensures business operations are in line with the organization's vision and strategy, enhances communication internally and externally, and tracks the organization's progress towards strategic objectives.

Liquidity Measures

Financial metrics used to determine an entity's ability to pay off its short-term obligations with available assets without significant loss.