SPHR Human Resources

Answer - A - The balanced scorecard concept tracks information in four key areas: financial results, customer results, key internal processes, and how people are hired and trained to achieve organizational goals.

Key Takeaway: The balanced scorecard is a strategic management system developed by Robert Kaplan and David Norton. They saw that traditional business measurements focused only on financial results, and other key elements that impacted business success were not being included in strategic management decisions. The purpose of the scorecard is to tie all business functions into specific plans for achieving goals and to provide a means of measuring how each objective contributed or failed to contribute to the organization’s goals.