What Are the Three Nonfinancial Objectives of the Balanced Scorecard

question 18

Essay

What are the three nonfinancial objectives of the balanced scorecard?

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Definitions:

Interpersonal Communication

The process of exchanging information, ideas, and feelings between two or more people through verbal or non-verbal means.

Reporting

The process of formally documenting and communicating information, findings, or results to relevant stakeholders.

Values-based Culture

A corporate culture that is deeply rooted in a set of core values and principles which guide the behaviors and decisions of the organization.

Proactive Approach

Taking action in anticipation of future problems or needs rather than reacting to events after they occur.