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Balanced Scorecard Flashcards, test questions and answers

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We've found 4 Balanced Scorecard tests

Accounting Balanced Scorecard Balanced Scorecard Approach Income From Operations Real Time Data
Citibank: Performance Evaluation – Flashcards 25 terms
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Mary Browning
25 terms
Balanced Scorecard Business Management Key Performance Indicators Long Term Goals Long Term Plan
Mgt 3100 Ch 5 – Flashcards 39 terms
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Martha Hill
39 terms
Balanced Scorecard Balanced Scorecard Approach Economic Value Added
Business Management-Chapter 16 – Flashcards 40 terms
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Paulina Ratliff
40 terms
Balanced Scorecard Business Management Cause And Effect Relationship Educational Technology Hersey And Blanchard Management Strategic Planning Process
Quality Chapter 12 – Flashcards 60 terms
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Elizabeth Bates
60 terms
• What is the Balanced Scorecard Framework?
o Framework designed to translate an organization’s mission and vision statements and overall business strategy into specific, quantifiable goals and objectives and to monitor the organization’s performance in terms of achieving those goals o Customers- satisfaction and retention- o Learning and growth- explore the effectiveness of management in terms of measures of employee satisfaction and retention and information system performance) o Internal processes- looks at production and innovation- measuring performance in terms of maximizing profit from current products and following indicators for future productivity o Financial performance- most traditional, includes assessments of measures such as operating costs and return on investment o Leading indicators- measures that might be examined to predict poor performance of organization in the future- employee turnover o Lagging indicators- reflect performance that is in decline- decrease in sales
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Balanced scorecard (for HR department): what are some HR measurements for the customer perspective?
Employer satisfaction index, employee engagement index, fidelity percent resolved 1st call.
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In the balanced scorecard, what type of indicators focus on production and operating statistics?
Business process
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Balanced scorecard: what are the 4 “perspectives”?
Financial perspective, customer perspective, internal business processes/operations perspective, learning and growth perspective
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Question 10 Which statement is true concerning the balanced scorecard? a. It links performance measures to a company’s strategic goals. b. It uses four financial measures to evaluate performance. c. It sets objectives in order to create the largest amount of profit. d. It evaluates performance using standard costs to effectively incorporate all areas of the organization.
a. It links performance measures to a company’s strategic goals.
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An article on public libraries contained the following statement: “The Balanced Scorecard helps organize and run the library according to a specific strategic plan, while demonstrating the library’s value to the community as a whole.” When dealing with the customer area of the Balanced Scorecard, the article advised librarians to use customer surveys. Why might this be a poor strategy to use?
Customer surveys are typically misleading, skewed to positive feedback.
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Explain the four perspectives of the balanced scorecard and how a balanced scorecard is related to organizational strategy. How would you apply the balanced scorecard to your team processes?
The four perspectives of the balanced scorecard are 1. customer satisfaction 2. internal processes 3. innovation and improvement activities 4. financial measures. It is related to organizational strategy because it establishes goals and performance measures according to the four perspectives. For us, we viewed the customer as prospective bryant students, the internal processes as our team relations, innovation as the ways that we can reach these students and inform them about the US China Institute, and the financial shareholders as the US China Institute who supported us financially during the project and who we had to report to.
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Which of the following performance perspectives in the balanced scorecard model measures the ultimate value that a business provides to its shareholders? a. The learning perspective b. The internal perspective c. The customer perspective d. The financial perspective
The financial perspective
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While the balanced scorecard uses some financial performance measures, it places equal emphasis on _____.
nonfinancial performance measures.
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What is Citibank’s strategy for the Balanced scorecard?
• Define a specific performance scorecard and link rewards to the accomplishments of the specific measures to induce employees to pursue the firm’s strategy • To implement its strategy, Citibank decides to include nonfinancial measures using a balanced scorecard
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