To Effectively Use the Balanced Scorecard,nonprofit and Government Organizations

question 11

Multiple Choice

To effectively use the Balanced Scorecard,nonprofit and government organizations:

• A)must identify a clear strategy with outcomes identified.
• B)must focus on financial success as their primary objective.
• C)must shift thinking from what it plans to accomplish to what it plans to do.
• D)These organizations cannot effectively use the Balanced Scorecard.

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Definitions:

Human Brain Modularity

The concept that the human brain operates through distinct regions or modules that specialize in different functions.

Heuristics

The brain’s low-energy mental shortcuts for making decisions. They are “fast and frugal” and work well in most situations but in other situations result in systematic errors.

System 1

This refers to a concept in psychology, specifically in the dual-process theory of thought, where System 1 is the fast, instinctive, and emotional way of thinking.

Availability Heuristic

A cognitive bias where individuals rely on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.