Asked by Nomzamo Lubisi on Jun 06, 2024
Verified
Which of the following is an example of a strategic performance measurement system?
A) product costing system
B) lean management system
C) standard cost system
D) balanced scorecard
Strategic Performance Measurement System
A framework that companies use to monitor and manage their strategies by measuring performance using financial and non-financial metrics.
Balanced Scorecard
A strategic planning and management system used to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor performance against strategic goals.
Lean Management System
A systematic approach for eliminating waste within a manufacturing system without sacrificing productivity.
- Understand the use and functionality of strategic performance measurement systems.
Verified Answer
LE
Lesley EstradaJun 12, 2024
Final Answer :
D
Explanation :
The Balanced Scorecard is a strategic performance measurement system that incorporates financial and non-financial measures to provide a more comprehensive view of organizational performance. It helps organizations align their day-to-day operations with their strategic objectives.
Learning Objectives
- Understand the use and functionality of strategic performance measurement systems.