Customer Satisfaction, Operational Efficiency, and Employee Excellence Are the Three

question 119

True/False

Customer satisfaction, operational efficiency, and employee excellence are the three primary considerations when using the balanced scorecard approach.

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Definitions:

Inputs to Outputs

The process of transforming resources or inputs (such as labor, capital, and materials) into products or services (outputs) in a production system.

R&D

Research and Development; activities undertaken by companies to innovate and develop new products or services.

Immediate Environment

The direct surroundings and conditions in which an organization operates, including factors that have immediate impact on its performance and decision-making processes.

Larger Environment

The broader context or setting in which something exists or occurs, including social, economic, and ecological factors.