The balanced scorecard usually emphasizes traditional e measures such as return

Question

The balanced scorecard usually emphasizes traditional e measures such as return on assets and sales growth. True QUESTION 22 The final step in the strategic control process is the strategy. None of the above. QUESTION 23 The first step in the strategic control process is establishing standards. taking corrective action. None of the above. QUESTION 24 The informal organization is static. is flexible. requires a mandate from top management in order to change. All of the above. QUESTION 25 The most commonly utilized performance measure is sales growth. market share. customer service. None of the above.

Explanation / Answer

21. Traditional financial measures like ROI, sales growth, etc. do not give a holistic view of the company’s value proposition. So, balanced scorecard has been implemented in companies to efficiently measure the performance of the company.

Hence, the statement is (B) False

22. The five steps of a strategic control process are:

So, the answer is (D) None of the Above

23. The five steps of a strategic control process are:

So, the answer is (D) None of the Above

24. The informal organization comprises all the informal groups in the company. It reflects the association of people that arise instantaneously as they work together. So, the structure of informal organization is very flexible.

The answer is (B) is flexible

25. The most commonly utilized performance measure is the return on assets.

Hence the answer is (D) None of the above

26. The process of measuring a firm’s performance against that of the top performers is called benchmarking. This study helps to evaluate the company’s standards against the industry’s best practices and standards.

Hence the answer is (B) Competitive Benchmarking

27. The process of planning for and implementing the response to a wide range of negative events that could severely affect an organization is Crisis management. It helps in analyzing the company’s environment and preparing it to face any crisis.

Hence the answer is (B) Crisis Management

28. Top management uses strategic control to maintain proper alignment between the external and internal environments. This helps in maximizing the profit of the organization.

Hence the answer is (A) True.

29. Competitive benchmarking is used to compare the current performance with the best standards. So, one of the internal sources of competitive benchmarking is Data from the firm’s best quarters in the previous several years.

Hence the answer is © Data from the firm’s best quarters in the previous several years.

30. Strategic control is used to understand how the company is performing, to keep a track of the business strategy and to accommodate any kind of changes.

Hence the answer is (D) All of the above are reasons.

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