1. Which of the following is not a step in the BSC planning process? a) Define objectives and measures b) Identify strategic initiatives c) Develop a performance scorecard d) Evaluate performance

Answer: d) Evaluate performance

1. The BSC planning process begins with: a) Identifying strategic initiatives b) Defining objectives and measures c) Developing a performance scorecard d) Evaluating performance

Answer: b) Defining objectives and measures

1. The BSC planning process helps organizations: a) Align their activities with their strategic objectives b) Evaluate their financial performance c) Increase employee satisfaction d) Reduce operational costs

Answer: a) Align their activities with their strategic objectives

1. Which of the following is a key characteristic of a well-defined objective in the BSC planning process? a) Measurable b) Ambiguous c) Subjective d) Vague

Answer: a) Measurable

1. The BSC planning process involves developing a performance scorecard, which includes: a) Financial measures only b) Customer measures only c) Internal process measures only d) Balanced measures across multiple perspectives

Answer: d) Balanced measures across multiple perspectives

1. Strategic initiatives in the BSC planning process are: a) Short-term goals b) Long-term goals c) Action plans to achieve objectives d) Financial targets

Answer: c) Action plans to achieve objectives

1. The BSC planning process helps organizations to: a) Monitor and track progress towards their objectives b) Increase shareholder value c) Reduce employee turnover d) Decrease customer satisfaction

Answer: a) Monitor and track progress towards their objectives

1. Which of the following is a benefit of using the BSC planning process? a) Improved communication and alignment of goals b) Increased operational costs c) Decreased customer satisfaction d) Reduced employee engagement

Answer: a) Improved communication and alignment of goals

1. The BSC planning process is a continuous cycle that involves: a) Setting objectives, measuring performance, and taking corrective actions b) Setting objectives, measuring performance, and celebrating success c) Setting objectives, measuring performance, and ignoring results d) Setting objectives, measuring performance, and blaming employees

Answer: a) Setting objectives, measuring performance, and taking corrective actions

1. The BSC planning process is applicable to: a) Only large organizations b) Only small organizations c) Both large and small organizations d) None of the above

Answer: c) Both large and small organizations