At the completion of the most recent fiscal year, the management of Fast Cars, Inc., a dealership firm, is evaluating their performance. They created a balanced scorecard at the beginning of the year and identified an objective of increasing customer satisfaction. As part of their review process at the end of the year, what could they do next?
A) Gather the actual data, compare it to the targets, and fire anyone in the customer service department who missed the target.
B) Gather the actual data, compare it to the targets, and then adjust their strategy accordingly.
C) Gather the actual data, compare it to the targets, and wait for an annual review to discuss what happened with management.
D) Gather this year's data, compare it to last year's data, and adjust their strategy accordingly.

Question

Quizplus · Accepted Answer

This question requires familiarity with balanced scorecards, different perspectives, and the elements that comprise each. Choice B is correct because it identifies the appropriate steps to take during the review process to ensure success. The other choices are all incorrect due to a missing element that is critical to a successful review.

At the Completion of the Most Recent Fiscal Year, the Management