Question
he balanced scorecard framework Blank______.
Multiple select question.
considers customer satisfaction to be a financial measure
holds organizations accountable for translating improvements in nonfinancial performance to financial results
considers market performance as a financial measure
suggests that improving process-oriented measures automatically leads to financial success
Multiple select question.
considers customer satisfaction to be a financial measure
holds organizations accountable for translating improvements in nonfinancial performance to financial results
considers market performance as a financial measure
suggests that improving process-oriented measures automatically leads to financial success
Answers
GPT-4o mini
The balanced scorecard framework:
- **holds organizations accountable for translating improvements in nonfinancial performance to financial results**
This option correctly reflects the essence of the balanced scorecard, which emphasizes the link between non-financial indicators (like customer satisfaction, internal processes, and learning and growth) and financial performance.
The other options are not accurate representations of the balanced scorecard framework:
- **considers customer satisfaction to be a financial measure** (Customer satisfaction is generally categorized as a non-financial measure in the balanced scorecard.)
- **considers market performance as a financial measure** (Market performance might be reflected in financial measures, but the balanced scorecard also emphasizes non-financial perspectives.)
- **suggests that improving process-oriented measures automatically leads to financial success** (While improving processes can lead to better financial success, it does not automatically guarantee it without considering other factors.)
- **holds organizations accountable for translating improvements in nonfinancial performance to financial results**
This option correctly reflects the essence of the balanced scorecard, which emphasizes the link between non-financial indicators (like customer satisfaction, internal processes, and learning and growth) and financial performance.
The other options are not accurate representations of the balanced scorecard framework:
- **considers customer satisfaction to be a financial measure** (Customer satisfaction is generally categorized as a non-financial measure in the balanced scorecard.)
- **considers market performance as a financial measure** (Market performance might be reflected in financial measures, but the balanced scorecard also emphasizes non-financial perspectives.)
- **suggests that improving process-oriented measures automatically leads to financial success** (While improving processes can lead to better financial success, it does not automatically guarantee it without considering other factors.)