COST ACCOUNTING
BALANCED SCORECARDS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Specifying management’s desired relationship between financial perspectives
|
|
|
Specifying management’s desired relationship among the four perspectives
|
|
|
Specifying management’s desired relationship between internal business process perspectives
|
|
|
Specifying management’s desired relationship between customer perspectives
|
Detailed explanation-1: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.
Detailed explanation-2: -The heart of the balanced scorecard is a framework of four major categories or perspectives for strategy implementation – financial, customer, internal business, and innovation and learning: The financial perspective asks how the organization should appear to shareholders so that the company can succeed financially.
Detailed explanation-3: -a strategic-based performance management system that typically identifies objectives and measures for four different perspectives: the financial perspective, the customer perspective, the process perspective, and the learning and growth perspective. those objectives and measures common to most organizations.
Detailed explanation-4: -These 4 perspectives of a balanced scorecard are interconnected hierarchically. The main aim of most organizations is to achieve enhanced financial results. This is made possible when there is a focus on learning and growth within the organization. Learning and growth enhance the internal capacity of the organization.