Which of the following best describes the four components of a balanced scorecard?
A.
Customers, innovation, growth, and internal processes.
B.
Business objectives, critical success factors, innovation, and growth.
C.
Customers, support, critical success factors, and learning.
D.
Financial measures, learning and growth, customers, and internal processes.
The Answer Is:
D
This question includes an explanation.
Explanation:
The balanced scorecard, introduced by Robert Kaplan and David Norton, includes four main components that provide a comprehensive view of an organization’s performance. These components are:
Financial Measures – to track financial success and shareholder value.
Learning and Growth – to foster an environment of continuous improvement and innovation.
Customers – to measure customer satisfaction and market share goals.
Internal Processes – to ensure that critical operations and business processes are running efficiently. These elements together help an organization balance short-term objectives with long-term goals. References:
Kaplan, R.S., & Norton, D.P. (1996). The Balanced Scorecard: Translating Strategy into Action.
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