In the implementation phase of the BSC, it is necessary to: define a strategy, set objectives, carry out the management format, delegate functions, choose reliable data, qualify progress and implement an improvement cycle.

BALANCED SCORECARDS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	True
B	False

Explanation:

Detailed explanation-1: -Implementation is the process that turns strategies and plans into actions in order to accomplish strategic objectives and goals. Implementing your strategic plan is as important, or even more important, than your strategy.

Detailed explanation-2: -A balanced scorecard is a strategic management performance metric that helps companies identify and improve their internal operations to help their external outcomes. It measures past performance data and provides organizations with feedback on how to make better decisions in the future.

Detailed explanation-3: -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.

There is 1 question to complete.

ECONOMICS

COST ACCOUNTING

BALANCED SCORECARDS