Following are some of the steps in implementing a balanced scorecard. Which one of these steps would be performed before the others?
A) Collect and analyse scorecard data.
B) Communicate and refine measures.
C) Establish performance targets and action plans.
D) Develop performance measures and objectives.

Question

Quizplus · Accepted Answer

The first step in implementing a balanced scorecard is to develop the performance measures and objectives. Without well-defined measures and objectives, it will be difficult to collect and analyze scorecard data, establish performance targets and action plans, or communicate and refine measures. Therefore, option D is the correct choice.

Following Are Some of the Steps in Implementing a Balanced