Asked by Heather Smith on Apr 26, 2024
Verified
Carli is a manager at PetsCo and is leading the development of the BSC for the company. She is correct in explaining to her development team that management may need to adjust its strategic objectives if their expectations regarding relationships between several strategic objectives are not supported by statistical analysis.
Strategic Objectives
Strategic objectives are specific goals that an organization aims to achieve, aligned with its overall vision and strategy, serving as a guide for its operational activities.
Statistical Analysis
The process of applying statistical techniques to interpret, summarize, and draw conclusions from collected data.
- Recognize and elucidate the procedure for establishing a balanced scorecard and the contribution of cross-functional teams in its development.
- Acknowledge the role of leading and lagging indicators in the measurement of performance and the implementation of strategies.
Verified Answer
ZK
Zybrea KnightMay 02, 2024
Final Answer :
True
Explanation :
Carli is correct because the Balanced Scorecard (BSC) approach involves linking strategic objectives to measurable outcomes. If statistical analysis does not support the expected relationships between these objectives, it may indicate that the strategy needs adjustment to better align with actual performance and outcomes.
Learning Objectives
- Recognize and elucidate the procedure for establishing a balanced scorecard and the contribution of cross-functional teams in its development.
- Acknowledge the role of leading and lagging indicators in the measurement of performance and the implementation of strategies.