Strategic Man Acc

Question 1

What is the balanced scorecard?

Answer 1

• it is an integrated framework of performance measurements that seek to manage strategy implementation
• it exists to counterbalance the focus on financial information by givin attention to non-financial indicators
• it focuses mainly on the following 4 perspectives
• Customer perspective (how do customers see us?)
• Internal business perspective (What must we excel at?)
• learning and grow perspective (Can we continue to improve and create value?)
• Financial perspective (How do we look to shareholders?)

Question 2

When would balanced scorecard perspective be helpful?

Answer 2

When evaluating the performance of the business