The translation of organization strategy, and mission into performance measures to provide framework for strategy implementation is termed as __________?
Correct answer: D. balanced scorecard
- A. differentiation scorecard
- B. bargaining scorecard
- C. leadership scorecard
- D. balanced scorecard
Explanation
A balanced scorecard converts an organisation’s mission and strategy into a connected set of performance measures across financial, customer, internal-process, and learning-and-growth perspectives. This gives managers a framework for implementing strategy rather than merely describing it.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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