A popular approach to performance measurement that integrates financial and nonfinancial measures and links them to the organization's goals and objectives is called the ________.
A) balanced scorecard
B) contribution approach
C) quality control approach
D) TQM approach

Question

Quizplus · Accepted Answer

The balanced scorecard is a popular approach to performance measurement that integrates financial and non-financial measures and links them to the organization's goals and objectives. It enables organizations to measure and track their progress towards achieving their strategic goals by using a balanced set of metrics across different areas such as finance, customer, internal business processes, and learning and growth. The other options, such as the contribution approach, quality control approach, and TQM approach, are not synonymous with the balanced scorecard.

A Popular Approach to Performance Measurement That Integrates Financial and Nonfinancial