Balanced Scorecard Goals Are Rarely Weighted, but Are Scored to Create

question 61

True/False

Balanced scorecard goals are rarely weighted, but are scored to create a composite measure of goal achievement across the organization each year.

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Definitions:

Manufacturing Environment

The setting or conditions in which manufacturing processes occur, involving production of goods in factories.

Raw Materials

Raw materials are the basic, unprocessed materials used as inputs in the manufacturing process to produce finished goods.

Work in Process

Goods that are in production but have not yet completed the manufacturing process, considered a type of inventory on the balance sheet.

Finished Goods

A rephrased definition: Products that have completed the manufacturing process and are ready to be sold but are still in the company's inventory.