Successful implementation of the Balanced Scorecard:
A)may be completed by one important member of the senior management team, such as the chief financial officer.
B)involves everyone in the organization knowing and understanding the strategy.
C)should not begin until data are collected for all scorecard measures.
D)starts with a process to acquire a new data collection system.

Question

Quizplus · Accepted Answer

Successful implementation of the Balanced Scorecard involves everyone in the organization knowing and understanding the strategy. It is important to communicate the strategy to all employees and ensure they have a clear understanding of how their individual goals and objectives align with the overall strategy. The involvement of all employees in the process is essential to ensure buy-in and alignment with the strategy. The other options are not correct as the implementation should not be solely dependent on one person or process, and data collection should not be the starting point for implementation.

Successful Implementation of the Balanced Scorecard