Assign Keyboard Shortcuts for Programs in Windows 7

Application can be assigned a shortcut key in Windows 7. The application

would launch when the combo of keys is pressed which you entered as the

Shortcut Key for that application.

To create Shortcut key for any application in Windows 7 Follow these steps: 

1. Right-click the program icon and select Properties. 
2. Select the Shortcut tab
3. Click in Shortcut key textbox 
4. Enter the keyboard shortcut for that program.
5. Press OK to exit.
6. Use the Keyboard shortcut combo to launch the application.

Above Image shows the way i have used a short-cut key "Ctrl+Alt+C" to launch calculator
application other applications can also be launched using Shortcut keys.