Which of the following is an advantage of using balanced scorecard?
A) It eliminates the need to communicate the details of an incentive plan to the employees.
B) It eliminates managerial effort when providing incentives to employees.
C) It increases the pay for all employees in the organization regardless of their performances.
D) It reduces employee stress because it does not focus on financial targets.
E) It helps employees understand the organization's goals.

Question

Quizplus · Accepted Answer

The balanced scorecard helps employees understand the organization's goals by providing a comprehensive view of the various performance indicators, including financial and nonfinancial metrics. This understanding can enable employees to align their individual goals and activities with those of the organization, creating greater coherence and synergy throughout the organization. Additionally, the balanced scorecard can facilitate communication and collaboration among various departments and levels of the organization, promoting greater teamwork and coordination towards achieving organizational objectives.

Which of the Following Is an Advantage of Using Balanced