Question
The balanced scorecard framework Blank______.
Multiple select question.
considers customer satisfaction to be a financial measure
considers market performance as a financial measure
suggests that improving process-oriented measures automatically leads to financial success
holds organizations accountable for translating improvements in nonfinancial performance to financial results
Multiple select question.
considers customer satisfaction to be a financial measure
considers market performance as a financial measure
suggests that improving process-oriented measures automatically leads to financial success
holds organizations accountable for translating improvements in nonfinancial performance to financial results
Answers
GPT-4o mini
The balanced scorecard framework:
- **holds organizations accountable for translating improvements in nonfinancial performance to financial results**
This statement is correct. The balanced scorecard emphasizes the importance of linking non-financial performance measures, such as customer satisfaction and internal processes, to financial outcomes.
The other options you provided do not accurately represent the principles of the balanced scorecard framework. For example:
- It does **not** consider customer satisfaction or market performance as purely financial measures, as these are viewed as part of a broader strategy encompassing various perspectives (financial, customer, internal processes, learning/growth).
- It does **not** suggest that improving process-oriented measures automatically leads to financial success; rather, it acknowledges that performance improvements should be measured and linked to financial results through a strategic approach.
So, the only correct answer in your list is the fourth option.
- **holds organizations accountable for translating improvements in nonfinancial performance to financial results**
This statement is correct. The balanced scorecard emphasizes the importance of linking non-financial performance measures, such as customer satisfaction and internal processes, to financial outcomes.
The other options you provided do not accurately represent the principles of the balanced scorecard framework. For example:
- It does **not** consider customer satisfaction or market performance as purely financial measures, as these are viewed as part of a broader strategy encompassing various perspectives (financial, customer, internal processes, learning/growth).
- It does **not** suggest that improving process-oriented measures automatically leads to financial success; rather, it acknowledges that performance improvements should be measured and linked to financial results through a strategic approach.
So, the only correct answer in your list is the fourth option.