This concept was developed as a way for businesses to obtain a balanced perspective on performance by combining financial data with other considerations.
A)Financial ratios
B) Balanced scorecard
C) Common indicators
D) Cost-benefit analysis

Question

This concept was developed as a way for businesses to obtain a balanced perspective on performance by combining financial data with other considerations. 
A)Financial ratios
B) Balanced scorecard
C) Common indicators
D) Cost-benefit analysis

Quizplus · Accepted Answer

The balanced scorecard is a tool that combines financial data with non-financial measures to provide a comprehensive view of business performance. This approach helps businesses identify and track performance in areas beyond traditional financial metrics, such as customer satisfaction, employee engagement, and process efficiency, leading to a more well-rounded understanding of overall performance. Financial ratios (A) only focus on financial data and do not account for non-financial performance measures. Common indicators (C) and cost-benefit analysis (D) also do not consider non-financial performance measures.

This Concept Was Developed as a Way for Businesses to Obtain