Final answer:
The Balanced Scorecard approach can be problematic and costly to implement, and may not guarantee overall success in achieving the objective.
Step-by-step explanation:
The statement that the Balanced Scorecard approach can be problematic and costly to implement, and even after implementation may be unsuccessful in achieving the overall objective is true. The Balanced Scorecard is a strategic management tool used by organizations to measure performance and align business activities with the organization's vision and strategy. While the Balanced Scorecard can be effective, it requires careful planning, resource allocation, and ongoing monitoring to ensure success.
Implementing the Balanced Scorecard can be costly due to the time and resources required to design and implement the framework, train employees, and collect and analyze data. Additionally, if the objectives and measures in the Balanced Scorecard are not well-defined or aligned with the organization's strategy, it may not effectively drive performance or achieve the desired outcomes.
Furthermore, successful implementation of the Balanced Scorecard does not guarantee overall success. Other factors, such as organizational culture, leadership support, employee engagement, and external market conditions, can influence the achievement of the organization's objectives.