The Balanced Scorecard Approach to Performance Evaluation

question 87

Multiple Choice

The balanced scorecard approach to performance evaluation:
I. Is less time consuming and expensive than other approaches
II. Helps managers integrate strategies across divisions and functions
III. Assists managers in predicting possible future problems

• A)I and III only
• B)I and II only
• C)II and III only
• D)I, II, and III

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Definitions:

Operations Management

The administration of business practices aimed at ensuring maximum efficiency within a company, focusing on converting materials and labor into goods and services as effectively as possible.

Inputs

The resources—such as labor, money, materials, and energy—that are converted into outputs.

Transforming Resources

The assets, materials, and inputs used by a company to create products or deliver services efficiently.