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Balanced ScoreCard in Infosys

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Introduction:
The balanced scorecard is a management tool. It has emerged in an age where bureaucracies are inefficient and ineffective in mustering the support of a broad range of stakeholders in a company. Today enterprises are complex. They have an increasing number of units like strategic business units, subsidiaries and the extended enterprise. These units are hard to monitor directly. Therefore, the companies are seeking to make their working transparent by measurement of the variables affecting their performance and showing their relationships to outcomes achieved. They are also able to increase the participation of their employees and others, elicit their initiatives, pinpoint problems much faster and take specific action plans to correct matters.
The balanced scorecard in Infosys includes the non-financial and financial metrics for performance measurement. The non-financial metrics helps Infosys to identify the strategic variables that can help it to gain competitive advantage and improve its financial performance. These non-financial variables increasingly include intangibles like core competence, customer satisfaction, and employee competence. As these variables are measured, Infosys discovers unsuspected sources of gaining competitive advantage.
Financial measures have several problems when they are used for the operational management of enterprises. They are too much aggregated to help in the identification of sources of competitive advantage and in assigning responsibility at a specific level. Financial numbers can be best used as a measure of the outcomes achieved in the past. These numbers are not helpful when managements are looking at means to achieve their future goals.
Balanced scorecard is a methodology by which Infosys aligns its strategies with the work flows and resources. They help the company to scan their value chain and find means to lower costs speed up processes and improve quality in order to achieve their goals. When the outcomes fall short of the expected achievements, Infosys has the means to trace back the source of the problem and correct it quickly or better still anticipate it in time to take pre-emptive action.
Infosys has to be careful while choosing the variables they select within the balanced scorecard in order to avoid unnecessary data processing which has a significant impact on its outcome. It also has access to statistical analysis tools which helps it to test the validity of the variables and identify new ones from patterns it observes in its business.
Technology, especially dashboards, is an aide to empower management with the complex task of communicating strategies, measurement and processing of data and testing the validity of the assumptions companies make in formulating their strategy. Dashboards also make the company’s information transparent and pass relevant information to the employees of the company. This is helpful when tolerance for delays in decision making keeps declining and scenarios change rapidly.

Number of Pages of Project Report: 92
Package Includes: Project Report
Project Format: Document (.doc)

Table of Contents of Project Report:
Chapter 1: Introduction
1.1 Executive Summary
1.2 Objectives of the study
1.3 Literature Review

Chapter 2: Company Profile
2.1 Infosys – Company Profile
2.2 Values
2.3 Quality
2.4 Industries

Chapter 3: Balanced Scorecard
3.1 History of Balanced Scorecard
3.2 Meaning and Definition of Balanced Scorecard
3.3 Characteristics of Balanced Scorecard
3.4 Implementation of Balanced Scorecard
3.5 Benefits of using a Balanced Scorecard
3.6 Balanced Scorecard in Infosys
3.7 Tools used in Balanced ScoreCard

Chapter 4: Research Methodology

Chapter 5: Data Interpretation

Chapter 6: Recommendation/Suggestions

Chapter 7: Conclusions

Chapter 8: Bibliography

Chapter 9: Annexure
9.1 Questionnaire
9.2 Bibliography


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