The most common strategic-based performance management system is
A)variance analysis with standard costs as benchmarks.
B)the balanced scorecard.
C)financial budgets.
D)all of the above.

Question

Quizplus · Accepted Answer

The balanced scorecard is a widely used strategic-based performance management system that focuses on four perspectives: financial, customer, internal processes, and learning and growth. It promotes a more holistic approach to performance management than a purely financial-oriented approach, and encourages managers to think about how their decisions impact all aspects of the organization. Variance analysis with standard costs as benchmarks and financial budgets are more traditional, finance-oriented approaches that do not necessarily consider other aspects of the organization's performance.

The Most Common Strategic-Based Performance Management System Is