Question

The purpose of using a balanced scorecard is for Multiple Choice companies to keep track of their wins and losses. companies to get a better understanding of their balance sheet. companies to compare themselves with their competitors. companies to make sure their business activities align with strategy. companies to keep track of their assets and their debits.\

Answer 1

companies to make sure their business activities align with strategy.

Step-by-step explanation:

A balance scorecard can be defined as a performance metrics used for measuring and assessing the quality of performance of a company. The four (4) performance metrics of a balance scorecard includes the following; customer, learning and growth, internal business processes, and financial.

Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.

Hence, the main purpose of using a balanced scorecard is for companies to make sure their business activities align with strategy.