Exam 17: The Balanced Scorecard and Strategy Maps

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

The first step in implementing a balanced scorecard is to clarify organisational vision, core competencies, and strategies. The strategies:

The basis of a balanced scorecard is continuous strategic analysis from as many perspectives as possible.

An organisation's core competencies are related to its strengths relative to competitors. Those strengths can include: I Productivity and skills II Reputation ard legal rights III Mission and core purpose

The primary aim of the balanced scorecard is to:

Strengths of the balanced scorecard related to communication and linkages include: I Encouraging clarification of vision and strategies I Improving orgarisational conserisus III Selecting measures that reflect the only strengths of the organisation

Steps in the innovation cycle of the value chain include:

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

Which of the following best describes the relationship between strategies and operating plans?

One of the strengths of the balanced scorecard is its ability to provide guidance for improvements. Those improvements can be related to: I Cost reductions II Employee morale III Decision making

Lack of senior management support is one of the major causes for failed balanced scorecard initiatives.

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

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

Steps in the operations cycle of the value chain include:

The balanced scorecard may be inappropriate for:

The perspectives in a typical balanced scorecard include all of the following except:

Weaknesses of the balanced scorecard include all of the following except:

FPM's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)

In terms of motivation, one of the balanced scorecard's strengths is:

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