Question

The balanced scorecard:

Is forward looking, stressing nonfinancial measures that can lead to benefits in the future. Is heavily weighted toward the financial critical success factors.
Fails to reflect environmental and social effects of the firm's operations. Is not comprehensive, since it doesn't include all the critical success factors which contribute to competitive success.
Helps focus managers' attention to bottom line profits.

Answer 1

The balanced scorecard is a strategic performance measurement tool in Business that is forward-looking and stresses non-financial measures that can lead to future benefits. While it includes financial critical success factors, it is also comprehensive and considers other important aspects. However, it may fail to reflect the environmental and social effects of a firm's operations.

Step-by-step explanation:

The subject of this question is Business.

The balanced scorecard is a strategic performance measurement tool in Business. It is forward-looking and stresses non-financial measures that can lead to benefits in the future, such as customer satisfaction, employee morale, and innovation. While it does include financial critical success factors, it also considers other important aspects, making it comprehensive. However, one criticism is that it may fail to reflect the environmental and social effects of a firm's operations.

Overall, the balanced scorecard helps focus managers' attention on the bottom line profits while also considering other important factors that contribute to competitive success.