When a company implements a balanced scorecard approach in its business,
A)it must ensure that it focuses on every aspect of its operations.
B)it must ensure that only one or two areas is seen as the focus.
C)it must establish performance measures that are focused on the specific strategy of the company.
D)it must never supplant the traditional accounting information that is available to management.

Question

Quizplus · Accepted Answer

The balanced scorecard approach requires a company to establish performance measures that are specific to the company's strategy. Therefore, it focuses on specific areas of operations and does not need to cover every aspect. Additionally, it can supplant traditional accounting information as long as it is aligned with the company's strategy.

When a Company Implements a Balanced Scorecard Approach in Its