Which of the Following Statements About the Balanced Scorecard (BSC)is

question 42

Multiple Choice

Which of the following statements about the balanced scorecard (BSC) is false?

• A)BSC is a strategic measurement and management methodology-and a tool.
• B)The BSC method relies on four "balanced" financial measures.
• C)The BSC methodology is widely used in all industry sectors for strategic planning.
• D)HBR editors consider the BSC as one of the most influential management ideas of the past 75 years.

Understand the principles of social learning theory, including vicarious learning and self-efficacy.

Comprehend the importance of rewarding behavior appropriately in a work setting.

Appreciate the need for reinforcement to follow a specific plan or schedule for effectiveness.

Grasp the concept of empowerment and its relation to self-efficacy and operant conditioning in management.

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Definitions:

Oligopolistic Industry

An industry characterized by a small number of firms that have significant control over market prices and high barriers to entry.

Collusion

Collusion is an agreement between two or more parties, often in secret, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically involving fraud or gaining an unfair market advantage.

Cartels

An agreement between competing firms to control prices or exclude entry of a new competitor in a market, often resulting in higher prices and restricted competition.

Informal Understandings

Unofficial agreements or practices among firms or individuals that dictate behavior without being legally binding.