The Financial Perspective of the Balanced Scorecard Identifies Targeted Customers

question 7

True/False

The financial perspective of the balanced scorecard identifies targeted customers and market segments and measures the company's success in these segments.

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Definitions:

Outsourcing

The business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.

Benefits Administration

The management and operation of an organization’s employee benefits program, including health insurance, retirement plans, and other non-wage compensations.

Flexible Benefits Plans

Employee benefit plans that allow workers to choose from a range of benefit options tailored to their individual needs.

Economies of Scale

Cost advantages that businesses obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.