Question
Question 20 The balanced scorecard (BSC)approach involves setting objectives and developing appropriate measures and targets on four main areas. Which of the following is not one of those areas: Staff development and business growth Taxation Internal business processes Financial returns Customers 3r
Answer
4.7
(279 Votes)
Wynona
Professional · Tutor for 6 years
Answer
Taxation
Explanation
## Step 1:Understand the four areas that are usually emphasized in a Balanced Scorecard (BSC) approach. These areas are generally linked to the overall strategic vision of a company. They include the following major perspectives:1. Customer: This looks at how well the company is fulfilling customer needs and wants.2. Financial: This perspective focuses on the financial metrics like profits, revenue, and return on investments.3. Internal Processes: Here, the focus is on the efficiency of internal systems and procedures in the company.4. Organisational/Staff Development and Business Growth: This perspective emphasises on staff development and overall growth of the company, for instance, training, innovative culture and more.## Step 2:Evaluate the answer choices against the above-pointed major perspectives usually found in a BSC approach. In this question, the options are:1. Staff Development and Business Growth2. Taxation3. Internal Business Processes4. Financial Returns5. CustomersFrom the above options, three areas match the recognised BSC perspectives: Staff Development and Business Growth, Internal Business Processes, Financial Returns and Customers. Taxation is not a standard category in a balanced scorecard, therefore it isn't a main key perspective usually.