Final answer:
A balanced scorecard is a control system that combines four sets of performance measures to evaluate the overall performance of a business.
Step-by-step explanation:
A balanced scorecard is a control system that combines four sets of performance measures to evaluate the overall performance of a business.
The four sets of performance measures are:
- Technological: This measures how well a company is utilizing technology to improve its operations.
- Customer feedback: This measures the satisfaction and feedback of customers regarding the company's products or services.
- Productivity: This measures the efficiency and effectiveness of the company's resources in achieving its goals.
- Strategy: This measures the alignment of the company's actions and decisions with its strategic objectives.
By considering these different aspects of performance, a balanced scorecard provides a comprehensive view of a company's overall performance.