Question

The​ ________ approach recognizes that both financial and operational performance measures should be considered when evaluating company performance.

Answer 1

Answer:

The correct answer is balanced scorecard.

Explanation:

The concept of balanced scorecard came from the idea of looking at the strategic measures in addition to financial performance of an organization in order to have an holistic view of the organization's performance. It is also a strategic tool used in setting key performance indicators (KPIs) for organizations.

The balanced scorecard is used to:

• set an organization goals, strategic intent and objectives
• tailor the daily work performance towards strategic targets of the organization
• design and delivery of projects, goods and services
• then, set performance measurement