Which of the Following Statements About the Balanced Scorecard Approach

question 22

Multiple Choice

Which of the following statements about the balanced scorecard approach is true?

• A) It helps management focus on only nonfinancial measures of performance.
• B) It helps management focus on critical success factors which may be financial and nonfinancial in nature.
• C) It helps management ignore short-term operating performance in favor of long-term operating performance.
• D) It helps management focus on only financial measures of performance.

---

Definitions:

Market Segment

Refers to the division of the potential market into distinct groups of customers with common needs or characteristics.

Viability

The ability of a business, project, or idea to survive or to sustain itself and achieve long-term success.

Firm's Mission

A statement that defines a company's core purpose, focus, and direction, serving as a guide for its strategies, decisions, and operations.

Evoked Set

The group of brands or products a consumer considers when making a purchase decision.