List the Four Areas of a Balanced Scorecard

question 198

Essay

List the four areas of a balanced scorecard. Describe each area. Define "key performance indicator" (KPI). Give an example of a KPI in each balanced scorecard perspective.

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Definitions:

Moral Hazard Problem

A situation where one party is more likely to take risks because another party bears the consequences of those risks.

Job Performance

The level of effectiveness and efficiency with which an employee carries out their designated tasks and responsibilities in the workplace.

Behavioral Economics

A field of economics that studies the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions and the consequences for market prices, returns, and the allocation of resources.

Economic Behavior

The actions and decisions individuals, households, firms, and governments make regarding the allocation of resources and goods.