Balance scorecard of Incepta Corporation
Executive Summary
After the introduction by Kaplan and Norton in the early 1990’s balanced scorecard become a popular tool to measure the performance of organization. Balanced scorecard is a performance measurement tool that helps the management of an organization to measures its financial and non-financial performance indicators of factors to measure its success level. Incepta Pharmaceutical Ltd is one of the leading pharmaceutical manufacturers in Bangladesh. From the very beginning of its operations it tries to achieve the confidence of the customers and market share through providing accurate and proper products to the customers. To become successful in another time in generic products, Incepta Pharmaceutical Ltd introduced balanced score in measuring its performance to know the exact position of its operation towards goals attainment. So, it developed a balanced scorecard for measuring its operational performance in 2006. The development of balanced scorecard wasn’t an easy task for the organization as management needs to measure the position of the organization in the market and the capabilities of it in implementing the balanced scorecard. Management first examined the organization and benchmark used in the worldwide to measure the performance by using balanced scorecard. Then, they examined the goals of the organization. Training was an integral part of the organization as performance assessors needed to know about the rating points against the performance measures. After flexing all the complexities associated with the implementation of the balanced scorecard, Incepta Pharmaceutical started using balanced scorecard in the late of 2006. Management of Incepta Pharmaceutical Ltd put emphasized more on the marketing perspectives of the balanced scorecard to grab the biggest market share in generic products in Bangladesh. Our observations were that Incepta Pharmaceutical Ltd could emphasize more on the financial and learning and growth perspectives
After the introduction by Kaplan and Norton in the early 1990’s balanced scorecard become a popular tool to measure the performance of organization. Balanced scorecard is a performance measurement tool that helps the management of an organization to measures its financial and non-financial performance indicators of factors to measure its success level. Incepta Pharmaceutical Ltd is one of the leading pharmaceutical manufacturers in Bangladesh. From the very beginning of its operations it tries to achieve the confidence of the customers and market share through providing accurate and proper products to the customers. To become successful in another time in generic products, Incepta Pharmaceutical Ltd introduced balanced score in measuring its performance to know the exact position of its operation towards goals attainment. So, it developed a balanced scorecard for measuring its operational performance in 2006. The development of balanced scorecard wasn’t an easy task for the organization as management needs to measure the position of the organization in the market and the capabilities of it in implementing the balanced scorecard. Management first examined the organization and benchmark used in the worldwide to measure the performance by using balanced scorecard. Then, they examined the goals of the organization. Training was an integral part of the organization as performance assessors needed to know about the rating points against the performance measures. After flexing all the complexities associated with the implementation of the balanced scorecard, Incepta Pharmaceutical started using balanced scorecard in the late of 2006. Management of Incepta Pharmaceutical Ltd put emphasized more on the marketing perspectives of the balanced scorecard to grab the biggest market share in generic products in Bangladesh. Our observations were that Incepta Pharmaceutical Ltd could emphasize more on the financial and learning and growth perspectives
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