WritingCitibank

WritingCitibank - Case Analysis: Citibank: Performance...

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Case Analysis: Citibank: Performance Evaluation Elena Wellard MBA 620 - 02 Professor Peter Frischmann November 23, 2008
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1. Why has Citibank introduced a Performance Scorecard? The implemented performance scorecard specifies goals and measures manager’s performance in 6 areas: Financial measures Strategy implementation Customer satisfaction Control measures People Standards The primary purpose of the balanced scorecard is to set goals and allow managers to complete well-rounded performance reviews using both quantitative and qualitative measures. While financial measures are important in analyzing performance of the bank, they do not provide any insight into non-quantifiable measures that can be equally important in performance assessment. In addition, the balanced scorecard forces employees to adopt a broader view of the business and concentrate not only on financial measures, but on measures that are truly important to the success of the company. In the service industry, customer satisfaction is a particularly important measure in determining how the company is doing. A high level of customer service is a significant component of Citibank’s strategy in California. Frit Seegers sees it as a leading indicator of future financial performance of the bank. From the past experiences, it was determined that customer satisfaction ratings do not follow the same pattern as financial performance, and it is necessary to measure customer satisfaction separately.
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2. Assume you are Lisa Johnson, complete Exhibit 1 to evaluate James’ performance. Provide an explanation for each one of the seven performance areas evaluated. Exhibit 1: James McGaran's Performance Scorecard Q1 Q2 Q3 Q4 Average Year End Financial 3 3 3 3 3.00 3 Revenue 3 3 3 3.00 Expense 2 3 2 2.33 Margin 3 3 3 3.00 Strategy Implementation 2 3 3 3 2.75 3 Total Households 2 3 2 1.75 New to bank households 2 2 2.00 Lost to bank households 2 2 2.00 Cross-sell, splits, mergers households 2 3 2.50 Retail asset balances 2 3 2.50 Market share 3 3 3.00 Customer Satisfaction 2 1 1 2 1.50 1 Control 3 3 3 3.00 2 Audit 3 3 3.00
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WritingCitibank - Case Analysis: Citibank: Performance...

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