The Balanced Scorecard
Upon completing his industrial engineering degree, Evan Karnoupakis took a position as a manager with the Franklin Mint, a manufacturer of commemorative and collectible products.Bruce Benedict, Evan's boss and the VP of operations, has been asked by the organisation's CEO to look into the balanced scorecard approach of performance management to see whether this would be appropriate for the organisation.In turn, Mr Benedict has asked Evan to look into balanced scorecard approaches and report back to him.
-Refer to The Balanced Scorecard (Scenario).The intent of the balanced scorecard is to ________.
A)search for the best practices among competitors only
B)evaluate organisational performance from more than just the financial perspective
C)identify which areas are most critical to the organisation's success
D)create a benchmark for the company
E)both A and C

Question

Quizplus · Accepted Answer

The balanced scorecard approach is designed to evaluate organizational performance from a variety of perspectives, including financial, customer, internal processes, and learning and growth. It is meant to go beyond just the financial perspective of performance management and provide a more comprehensive assessment of the organization's success.

The Balanced Scorecard Upon Completing His Industrial Engineering Degree, Evan Karnoupakis Took a Karnoupakis