Which of the following correctly matches each of the four perspectives of the balanced scorecard with the key question managers are trying to answer?

• A. Financial: What must we excel at?; Customer: Can we continue to improve and create value?; Internal Business Process: How do we look to shareholders?; Learning and Growth: How do customers see us?
• B. Financial: How do we look to shareholders?; Customer: How do customers see us?; Internal Business Process: What must we excel at?; Learning and Growth: Can we continue to improve and create value?
• C. Financial: Can we continue to improve and create value?; Customer: How do we look to shareholders?; Internal Business Process: How do customers see us?; Learning and Growth: What must we excel at?
• D. Financial: How do customers see us?; Customer: What must we excel at?; Internal Business Process: Can we continue to improve and create value?; Learning and Growth: How do we look to shareholders?

Answer: (B)

Verified step by step guidance

1. Step 1: Understand the concept of the balanced scorecard. It is a strategic management tool that helps organizations align business activities to their vision and strategy by focusing on four perspectives: Financial, Customer, Internal Business Process, and Learning and Growth.
2. Step 2: Review the key question associated with each perspective. The Financial perspective focuses on 'How do we look to shareholders?' as it measures financial performance and profitability. The Customer perspective asks 'How do customers see us?' to evaluate customer satisfaction and market share.
3. Step 3: Analyze the Internal Business Process perspective, which addresses 'What must we excel at?' This perspective evaluates operational efficiency and processes that contribute to delivering value to customers.
4. Step 4: Examine the Learning and Growth perspective, which asks 'Can we continue to improve and create value?' This perspective focuses on innovation, employee development, and the organization's ability to adapt and grow.
5. Step 5: Match each perspective with its corresponding key question based on the definitions provided. Ensure that the correct alignment is made to reflect the purpose of each perspective in the balanced scorecard framework.