Questions on performance measurement and balanced scorecard1

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Limuru institute of information and technology *

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STRATEGIC

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Management

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May 15, 2024

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docx

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Uploaded by ProfessorGoose4341

Questions on performance measurement and balanced scorecards: 1. Which of the following is NOT a primary objective of performance measurement? a) To assess progress towards organizational goals b) To provide feedback for continuous improvement c) To allocate blame for underperformance d) To enhance decision-making processes 2. In the context of balanced scorecards, which perspective focuses on measures related to employee training, innovation, and learning? a) Financial perspective b) Customer perspective c) Internal business perspective d) Learning and growth perspective 3. Which of the following is a characteristic of a well-designed balanced scorecard? a) It includes only financial measures b) It is static and does not evolve over time c) It aligns with the organization's strategy d) It primarily focuses on short-term performance 4. The balanced scorecard typically includes measures from which four perspectives? a) Financial, operational, marketing, and human resources b) Financial, customer, internal business processes, and learning and growth c) Sales, production, customer service, and research and development d) Budgeting, forecasting, auditing, and compliance

5. Which of the following is NOT a benefit of using balanced scorecards for performance measurement? a) Enhanced communication and understanding of strategy b) Clear alignment of performance measures with organizational goals c) Increased complexity in tracking and reporting performance d) Improved decision-making at all levels of the organization 6. The financial perspective in a balanced scorecard typically includes measures related to: a) Employee satisfaction b) Customer loyalty c) Profitability and financial health d) Product quality 7. Which of the following best describes the purpose of the internal business processes perspective in a balanced scorecard? a) To evaluate the organization's financial performance b) To measure customer satisfaction and loyalty c) To assess the effectiveness and efficiency of internal operations d) To track employee training and development 8. Which of the following is a potential challenge in implementing a balanced scorecard system? a) Lack of alignment with organizational strategy b) Overemphasis on short-term financial performance c) Difficulty in measuring intangible assets d) All of the above

9. In a balanced scorecard, the learning and growth perspective focuses on: a) Increasing revenue and profitability b) Improving employee skills and capabilities c) Enhancing customer satisfaction d) Streamlining internal processes 10. Which of the following is a key principle of effective performance measurement systems? a) Rely solely on financial metrics for evaluation b) Use a one-size-fits-all approach for all organizations c) Include a mix of leading and lagging indicators d) Focus exclusively on short-term results Answers: 1. c) To allocate blame for underperformance 2. d) Learning and growth perspective 3. c) It aligns with the organization's strategy 4. b) Financial, customer, internal business processes, and learning and growth 5. c) Increased complexity in tracking and reporting performance 6. c) Profitability and financial health 7. c) To assess the effectiveness and efficiency of internal operations 8. d) All of the above 9. b) Improving employee skills and capabilities 10. c) Include a mix of leading and lagging indicators

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