The Steps for Implementing a Balanced Scorecard

question 106

Multiple Choice

The steps for implementing a balanced scorecard:

• A)Are different in for-profit and not-for-profit organizations
• B)Should be customized for individual organizations
• C)Should not vary if the implementation is to be effective
• D)Begin with developing measures in each perspective

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Definitions:

Free Trade

A financial strategy that permits the trade of goods across borders with few governmental limitations or duties.

Protection-As-A-Bargaining-Chip

A strategic use of trade barriers or policies by a country to gain concessions or favorable terms from other countries.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.

Producer Surplus

The difference between the amount producers are willing and able to sell a good for and the actual amount received by them when the good is sold at the market price.