Following Are Some of the Steps in Implementing a Balanced

question 134

Multiple Choice

Following are some of the steps in implementing a balanced scorecard. Which one of these steps would be performed last?

• A)Investigate variances and reward employees
• B)Collect and analyze scorecard data to monitor performance
• C)Clarify organizational vision and strategies
• D)Establish action plans

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Definitions:

Procure-to-Pay

The end-to-end process involved in procuring goods and services, from initial requisition through to payment of the suppliers.

Approval Workflow

A systematic process in an organization for reviewing and approving documents or plans through a series of steps and stages.

Compliance Management

Systems and processes in place within organizations to ensure adherence to laws, regulations, and standards.

Strategic Importance

The significance or value of a decision, action, or asset in achieving long-term organizational objectives or competitive advantage.