The balanced scorecard translates an organization's mission and strategy into a set of performance measures that provides the framework for implementing its strategy.

Question

Quizplus · Accepted Answer

The balanced scorecard is a strategic planning and management tool that helps organizations communicate and align their goals and objectives. It translates the organization's mission and vision into a set of performance measures that cover a range of areas, including financial, customer, internal processes, and learning and growth. By using a balanced scorecard approach, organizations can monitor and track their progress towards achieving their strategic objectives and making their vision a reality.

The Balanced Scorecard Translates an Organization's Mission and Strategy into a Set