Certification in Supplier Diversity Practice Exam

What does the Balance Scorecard link together?

1. Performance measures and financial outcomes

2. Vision and strategy with performance measures

3. Supplier quality and customer feedback

4. Manufacturing cost and employee satisfaction

The correct answer is: Vision and strategy with performance measures

The Balanced Scorecard is a strategic planning and management system that is designed to align business activities with the vision and strategy of an organization. It provides a framework that translates an organization’s objectives into a set of performance measures across different perspectives, such as financial, customer, internal processes, and learning and growth. By connecting the vision and strategy with performance measures, the Balanced Scorecard helps organizations evaluate their performance beyond just financial metrics, ensuring that they consider other crucial aspects that drive success. This comprehensive approach allows organizations to assess whether they are achieving their strategic goals and objectives and to make necessary adjustments in their strategies or operations accordingly. This holistic view of performance management is essential for driving sustainable growth and ensuring that all parts of the organization are working towards a common purpose, which is the core reason why the answer is accurate.