The Balanced Scorecard (BSC) is a management tool that can significantly improve implementation of corporate objectives and strategies as well as provide a control and monitoring framework system. It’s about creating a business strategy where all the plans fit together in a simple to understand, cause-and-effect chain of events. It’s also about setting goals and measuring performance, and it’s about how to communicate to keep everyone in the team up-to-date.
The tool kit for identifying KPIs and the guide to help translate strategy into operational terms are targeted towards students who take up industry related projects as part of their final year Internship program.
Mohammed Ashraf, CEO Inkture Consulting Group said: “It guides students on creating KPIs for an organization and provides a way forward to creating scorecards for its respective departments. This way a student actually gets into the Industry challenges and builds an attitude of positive changes and effectiveness.”
“This approach engrains a holistic view among them and trains the student on a strategic level, as to how an organization can perform profitably, the imperatives to bottom line and designing a process on feedback received through the various scorecards.”
He Added: “A lot of organizations are now harnessing the benefits of this concept along with the use of web based intuitive applications which help create and modify scorecards on the fly. A good understanding of the concept and our tool kit-software will give the student an upper hand on successfully using these concepts in ‘real life’ after they graduate.”
Inkture is an Information technology consulting company. It aims to help enterprises improve efficiencies and to increase value for their customers by engaging in strategic business solutions and carefully planned implementations, which are scalable and respond efficiently to market demands. Inkture is an IYCON partner for balanced scorecard and process guide solutions.
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