What is one reason a Balanced Scorecard might be considered “balanced”? Multiple Choice It includes both leading and lagging performance indicators. It is widely used by organizations around the world. It includes a large base. All of these are reasons that it is balanced. It includes four perspectives.

What is one reason a Balanced Scorecard might be considered “balanced”? Multiple Choice It includes both leading and lagging performance indicators. It is widely used by organizations around the world. It includes a large base. All of these are reasons that it is balanced. It includes four perspectives.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter14: The Balanced Scorecard And Corporate Social Responsibility

Section: Chapter Questions

Problem 1CMA: Which of the following statements regarding the balanced scorecard is not correct? a. It seeks to...

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What is the role of the balanced scorecard in performance evaluation https://youtu.be/O71daIs6x_M
A balanced scorecard is an integrated system of performance measures designed to support an organization’s strategy. The various measures in a balanced scorecard should be linked on a plausible cause-and-effect basis from the very lowest level up through the organization’s ultimate objectives. The balanced scorecard is essentially a theory about how specific actions taken by various people in the organization will further the organization’s objectives. The theory should be viewed as tentative and subject to change if the actions do not in fact result in improvements in the organization’s financial and other goals. If the theory changes, then the performance measures on the balanced scorecard should also change. The balanced scorecard is a dynamic measurement system that evolves as an organization learns more about what works and what doesn’t work and refines its strategy accordingly. Why do the measures used in a balanced scorecard differ from company to company? Why does the…
Which of the following statements best describes the performance elements found on most balanced scorecards? a. The balanced scorecard contains neither financial nor nonfinancial performance measures. b. The balance scorecard contains nonfinancial but not financial performance measures. c. The balanced scorecard contains financial but not nonfinancial performance measures. d. The balanced scorecards contains both financial and nonfinancial performance measures.