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relationship banking combined with high level of service to its customers But as customers service expectations rose. New strategy Focus on customer service as a key differentiator
performance evaluation But to implement new strategy, Citibank changed their evaluation criteria New performance scorecard contains 6 different measures Financial measures Strategy implementation Customer satisfaction
Control measures
People Standards
Case Details
James McGaran is the manager of most important
branch in Los Angeles His branch has done better than others He has delivered impressive financial results for four years in a row His customer satisfaction ratings were below par He took steps to improve customer satisfaction (rating improved in last quarter)
branch is the largest and toughest branch in the division His branch had a demanding clientele and challenging competition James McGaran is a reference point for other branch managers He gave a lot of importance to these ratings
Q.2.Why has Citibank introduced a Performanceperformance scorecard specifies Scorecard? The implemented
goals and measures managers performance in 6 areas:
1.
2.
3. 4.
5.
6.
Financial measures Strategy implementation Customer satisfaction Control measures People Standards
level of services to customers Only financial measures were the poor vehicle to communicate the high service strategy Broader view of business and focus on all the dimensions for long term success Reflection of Customer Satisfaction as a key differentiator
and toughest branch in the division. Had a demanding clientele and challenging competition.
It will take sometime to insure that all the areas are measured appropriately He has done exceptionally well across the scorecard and he is consciously making efforts to over come the issues in customer evaluation rating Management should also have a look on James peer group ratings to ensure customer satisfaction is fair indicator which can be linked to overall performance As this is the highest revenue generating branch any decision which may have an impact on revenues generated from this branch should be with utmost surety
non-quantifiable measures in the future as steps are being taken to insure that they are measured appropriately