A firm has decided to use the balanced scorecard. Which of the following is not
ID: 409616 • Letter: A
Question
A firm has decided to use the balanced scorecard. Which of the following is not an advantage the company will gain by using the balanced scorecard?
It will link the company's CSF to its strategy.
It will monitor the firm's achievement towards its strategic goals.
It will include all the company's CSFs.
It will provide a complete, precise, and accurate financial overview of the firm.
a.It will link the company's CSF to its strategy.
b.It will monitor the firm's achievement towards its strategic goals.
c.It will include all the company's CSFs.
d.It will provide a complete, precise, and accurate financial overview of the firm.
Explanation / Answer
d. The balanced scorecard has aspects that are not just in the financial category. These may relate to the customer, people, and, the process. A scorecard is not a system that uses only a financial framework. A balanced scorecard links high-level goals to business strategy.
It links critical success factors to strategy. It includes critical success factors categorized into perspectives. It is a five-step process that determines Critical Success Factors. Long-term goals are linked to CSFs.
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