Balanced Scorecard - P2

Question 1

What is the balanced scorecard used for?

Answer 1

Enables us to measure performance without looking at just the financial results.
Enables us to look at what direction we want to take the business

Question 2

What are the disadvantages of the balanced scorecard?

Answer 2

Could lose focus on cost

Question 3

What are the four areas of the balanced scorecard?

Answer 3

Financial perspective
Customer perspective
Internal business perspective
Learning and growth

Question 4

What can you look at for the customer perspective?

Answer 4

Customer satisfaction
Market share
Customer retention