COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In a correct balance and alignment between the elements of the global strategy and the operational elements.
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In a correct balance and alignment between the elements of globalization and the chemical elements.
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In a correct imbalance and misalignment between the elements of the global strategy and the operational elements.
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In a correct balance and alignment between the elements of the internal strategy and the elements of middle management.
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Detailed explanation-1: -The balanced scorecard involves measuring four main aspects of a business: Learning and growth, business processes, customers, and finance. BSCs allow companies to pool information in a single report, to provide information into service and quality in addition to financial performance, and to help improve efficiencies.
Detailed explanation-2: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.
Detailed explanation-3: -The balanced scorecard is a management system aimed at translating an organization’s strategic goals into a set of organizational performance objectives that, in turn, are measured, monitored and changed if necessary to ensure that an organization’s strategic goals are met.
Detailed explanation-4: -The Balanced Scorecard is a framework designed to translate an organization’s mission and vision statements and overall business strategy into specific, quantifiable goals and objectives and to monitor the organization’s performance through a lens that helps achieve these goals.