Asked by

Julie Sanchez
on Oct 30, 2024

verifed

Verified

What is an advantage of using balanced scorecard?

A) It eliminates the need to communicate the details of an incentive plan to the employees.
B) It eliminates managerial effort when providing incentives to employees.
C) It increases the pay for all employees in the organization regardless of their performances.
D) It reduces employee stress because it does not focus on financial targets.
E) It helps employees understand the organization's goals.

Balanced Scorecard

A strategic planning and management system used by organizations to translate mission and vision statements into operational objectives and performance metrics across four perspectives: financial, customer, internal processes, and learning and growth.

Incentive Plan

A business strategy designed to motivate and reward employees in order to achieve higher levels of performance.

Organization's Goals

Objectives set by a company or an organization to guide its operations, steer its overall direction, and measure its performance over time.

  • Apprehend the theory and results of implementing the balanced scorecard methodology in incentive compensation schemes.
verifed

Verified Answer

MA
Madelyn AndersonOct 30, 2024
Final Answer:
Get Full Answer