Exam 18: The Balanced Scorecard and Strategy Maps

Common biases associated with balanced scorecard projects include

The balanced scorecard links short-term and long-term performance objectives to organisational vision and strategies.

Steps in the innovation cycle of the value chain include

Stakeholders in the strategic decision making process include suppliers, customers, and the community.

An organisation's operating plans include all of the following except

Balanced scorecards can improve communication and consensus throughout an organisation.

Financial and non-financial indicators are used to assess organisational performance and effectiveness under which of the following approaches?

The balanced scorecard's financial perspective is focused primarily on measures of economic and accounting profits.

Which of the following measures would be least likely to be included in a balanced scorecard's customer perspective?

Formulaic approaches for using balanced scorecard results

Managers should focus on finding the "one best measure" of performance based on the type of responsibility center they manage.

Balanced scorecard initiatives are sometimes seen as temporary fads by employees.

National Bank of Victoria (NBOV) is the fourth largest commercial bank in Australia. NBOV assets total $46.1 billion, loans of $26 billion, and total deposits of $35.5 billion. It provides online, telephone, and traditional banking and investment services to both individuals and businesses in Australia. NBOV's mission is to create an exceptional customer experience internationally by providing solutions through leading technologies, offering a wide selection of financial products and services, and leveraging experience to meet customers' needs. "Percent change in dollars spent on information technology" is most likely used in which balanced scorecard perspective?

In which order should the following steps be taken in implementing a balanced scorecard? 1 Develop links among the objectives of the organisation, divisions, departments, and individuals. 2 Provide feedback to employees and others. 3 Establish action plans and specific performance targets

Managers have traditionally relied on which of the following measures to evaluate performance?

Which of the measures below would be most likely to be found in the customer perspective of the balanced scorecard?

Which of the following measures would be most likely to be found in the internal business process perspective of the balanced scorecard?

Balanced scorecards, when properly implemented, can guide managers in making more effective decisions.

Part of strategic decision making is periodically clarifying organisational vision and core competencies.

Following are some of the steps in implementing a balanced scorecard. Which one of these steps would be performed last?