Question

With the balanced scorecard approach, the entire focus is on measuring and managing specific financial goals based on the organization's strategy. Group of answer choices True False

Answer 1

With the balanced scorecard approach, the entire focus is on measuring and managing specific financial goals based on the organization's strategy. is a "false" statement.

What is balanced scorecard?

The term "balanced scorecard" refers to the idea of using both conventional financial measures and strategic metrics to obtain a more "balanced" picture of success.

The balanced scorecard idea has developed beyond the straightforward application of viewpoints to become a comprehensive framework for managing strategy.

A system for strategic management and planning is the balanced scorecard (BSC). Businesses employ BSCs to:

• Tell others what they want to achieve.
• Align the job that everyone does on a daily basis with the plan
• Make projects, commodities, and services a priority.
• Track and evaluate your progress toward your strategic goals.

The ability to "connect the dots" between the various elements of strategic planning and management is one of the main advantages of using a disciplined framework.

To know  more about the balanced scorecard, here

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