COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The CMI helps us in the productive area of the company to know the number of finished units
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The CMI helps our company’s name to be known faster on social networks
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The CMI Allows to know through indicators the degree of execution of the strategies, allowing to anticipate the future balancing the different areas.
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The BSC helps managers not have to intervene in any of the decisions of the other areas of the company
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Detailed explanation-1: -Advantages of a balanced scorecard: With a balanced scorecard, different leaders and departments can still individualize their performance measurement, but it all falls within a set structure that can be understood across the organization. It gives a common place to everyone in the company to measure success.
Detailed explanation-2: -The single biggest advantage of the HR scorecard is that it becomes easier to align HR goals and strategies with the overall tactics or strategies of the whole organization. When HR goals and organizational goals align, the business function and HR function can work as one towards a common goal.
Detailed explanation-3: -The balanced scorecard system aims to provide a more comprehensive view to stakeholders by complementing financial measures with additional metrics that gauge performance in areas such as customer satisfaction and product innovation.