Explain the term "balanced scorecard" in a few words. What does it have to do with a business's operations?
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- What is a balanced scorecard and how do companies use it? How can it help MNCs specificallyWhy does the balanced scorecard include financial performance measures as well as measures of how well internal business processes are doing?How are the value chain and management accounting related? Distinguish between a cost center, a profit center, and an investment center using appropriate examples.
- Answer the following. Why performance ratio in a business or company is important?? *Purpose of performance ratio? *Advantage? *Disadvantage?What is the relationship between the value chain and management accounting? With the use of suitable examples, distinguish among a cost centre, profit centre and an investment centre.Please explain how the Balanced Scorecard can be employed to assist a company in executing its strategy.
- In business quantitative analysis, what is suitable decision tools applied?Which of the following is not an objective used in the balanced scorecard approach? Customer Financial Vendor Learning and growthWhich of the following is nor a common goal of an organization? A. operational efficiency B. being acquired by another business C. achieving strategic goals D. measuring financial performance
- Which of the following does not describe a management control system? A. establishes a companys strategic goals B. implements a companys strategic goals C. monitors a companys strategic goals D. a system that only measures profitabilityHow is the use of a balanced scorecard as a performance evaluation system helpful to companies?what is the importance of "keeping score" in business? What information should be shown and to whom it should be shown?