Organizations Should Set Their Balanced Scorecard Targets to Reflect Industry

question 8

True/False

Organizations should set their balanced scorecard targets to reflect industry benchmark values.

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Definitions:

Operational

Relates to the daily functions and activities required for the running of a business or execution of a process, focusing on efficiency and effectiveness.

Financial

Pertaining to the management of money, assets, or investments by individuals, organizations, or governments.

Strategic

Pertaining to the identification of long-term or overall aims and interests and the means of achieving them through careful planning and allocation of resources.

Financial

Pertaining to the management, creation, and study of money, banking, credit, investments, assets, and liabilities.