Balance scorecard of Incepta Corporation

Topics: Balanced scorecard, Strategic management, Strategy map Pages: 19 (5315 words) Published: December 15, 2014


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 as it want to lead the generic market of the pharmaceutical industry and all its success depends on the successful achievement of financial goals. Contents

Executive Summary2
Acknowledgement:4
Introduction:5
Organizational Overview:5
1.1 Incepta:5
1.2 History of Incepta:5
1.3 Vision:6
1.4 Mission:6
1.5 Recent Financial Situation6
Literature Review:7
Research Methodology:9
Balanced Scorecard:10
Balanced Scorecard in Incepta Pharmaceutical Ltd:12
Introduction of Balanced Scorecard:12
Implementation of BSC:13
Development of Balanced Scorecard in Incepta Pharmaceutical:15 Perspectives of BSC in Incepta Pharmaceutical:15
Financial Perspectives:15
Market Perspectives:16
Internal Business Perspectives:16
Learning and Growth Perspectives:18
Findings:19
Recommendations & Conclusion20
Recommendation:20
Conclusion:20
References:21

Acknowledgement:
At first, we would like to thank almighty Allah for giving us the abilities to complete this term paper. There are some people we would like to thank for their contributions to prepare this paper. At first, we would like thank Almighty Allah to bless to us finish this paper. We would thank our Honorable teacher, Associate Professor Md. Abul Kashem for introducing us with many new aspects of management control systems and assign us to prepare such a relevant report with our course. We would like to than Mr. Alamin Khan, Senior Executive, Department of HR, Incepta Pharmaceutical, to provide us with many useful information about the company. Above all we want to express our thanks to our parents to support us all the times.

Mehedi Hasan Khan
ID-05-028
Md. Rokib Ahmad Rony
ID-05-029

Introduction:
Balanced scorecard is a framework of understanding the financial and no-financial performance measures in the organization to measure the success of the organizational goal attainment. Counting the non-financial measures, organizations can...

References: 1.0 Beer, M., Eisenstat, R. and Spector, B. (2000). The critical path to corporate renewal. [Boston, MA]: Harvard Business School Press.
2.0 Inceptapharma.com, (2014). Incepta Pharmaceuticals | About Incepta. [online] Available at: http://www.inceptapharma.com/about-us.php [Accessed13 Nov. 2014].
3.0 Johnson, H. and Kaplan, R. (1987). Relevance lost. Boston, Mass.: Harvard Business School Press.
4.0 Kaplan, R. and Norton, D. (2001). The strategy-focused organization. Boston, Mass.: Harvard Business School Press.
5.0 Nair, M. (2004). Essentials of balanced scorecard. Hoboken, N.J.: John Wiley & Sons.
6.0 Niven, P. (2005). Balanced scorecard diagnostics. Hoboken, N.J.: Wiley.
7.0 Olve, N. and Sjöstrand, A. (2002). The balanced scorecard. Oxford, U.K.: Capstone Pub.
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