What Is a Balanced Scorecard

question 16

Multiple Choice

What is a balanced scorecard?

• A) A combination of performance measures directed toward the company's long- and short-term goals and used as the basis for awarding incentive pay
• B) A performance review process where the organization collects feedback from customers, managers, and subordinates, assigns ratings, and lists them on the company's performance card
• C) An arrangement in which the organization distributes shares of stock to all its employees by placing the stock into a trust
• D) An incentive pay in which payments are a percentage of the organization's profits and do not become part of the employees' base salary
• E) It is a system designed to measure the performance of HR personnel based on the quality of recruitment

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Definitions:

Measuring Sticks

Criteria or standards used to gauge or evaluate the performance, quality, or success of something.

Competitive Environment

The dynamic external system in which businesses compete for resources, customers, and market dominance.

Strategic Planning

The process of defining an organization's strategy, direction, and making decisions on allocating its resources to pursue this strategy, including capital and people.

Planning Horizon

The future time period over which an organization or individual plans, makes decisions, and forecasts outcomes.