COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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One of these items is not a Scorecard benefit. Which?
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Help align all areas and activities of the organization based on the strategic objectives and the fulfillment of the vision.
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Stimulates organizational transformation based on strategy.
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It requires strong sponsorship from leaders to be successful.
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Transform the vision of the organization into real actions that can be measured and followed.
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Explanation:
Detailed explanation-1: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.
Detailed explanation-2: -The HR scorecard is a tool that helps measure, manage and improve the role of the HR function within an organization. HR metrics and KPIs or HR deliverables are measured using the HR scorecard. This data is also used to predict the potential growth of the organization.
Detailed explanation-3: -The four perspectives of a balanced scorecard are learning and growth, business processes, customer perspectives, and financial data. These four areas, which are also called legs, make up a company’s vision and strategy.
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