Professional Documents
Culture Documents
Writing Citibank
Writing Citibank
Elena Wellard
MBA 620 - 02
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
bank, they do not provide any insight into non-quantifiable measures that can be equally
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
measure in determining how the company is doing. A high level of customer service is
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
separately.
2. Assume you are Lisa Johnson, complete Exhibit 1 to evaluate James’
areas evaluated.
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
Control 3 3 3 3.00 2
Audit 3 3 3.00
Legal / Regulatory 3 3 3.00
People 3 3 3 3 3.00 3
Performance Management 3 3 3 3.00
Teamwork 3 3 3 3.00
Training / Development 3 3 3 3.00
Self 3 3 3 3.00
Other 3 3 3 3.00
Employee Satisfaction 3 3 3 3.00
Standards 3 3 3 3 3.00 3
Leadership 3 3 3 3.00
Business Ethics / Integrity 3 3 3 3.00
Customer Interaction / Focus 3 2 3 2.67
Community Involvement 3 3 3 3.00
Contribution to Overall Business 3 3 3 3.00
Legend:
1 - Below Par
2 - Par
3 - Above Par
Financial measures: Above Par
management expectations for the last 4 years. This year was no exception. James
exceeded financial goals by 20%, thus ranking the branch #1 in the marketplace.
This is the rating James received in quarters 2, 3 and 4. The branch met or
exceeded its growth goals in the business, professional and retail segments. (The
scorecard does not indicate the goals for this measure, which makes analysis less
This measure was assessed only in 3 quarters, and in all 3 quarters the branch
scored above par. Even though James works hard on making sure his branch
operates in compliance, there is still some room for improvement in this area, and
James can implement several measures to lower the operating and fraud losses
James is a well respected leader that has high standards for himself and people he
involved in the community and encourages the same from his employees.
Customer Satisfaction: Below Par
This is a measure that can potentially cause the most controversy as James is
concerned with the survey that is used to asses customer satisfaction. In two quarters,
improvement opportunities and substantially improved service scores by the end of the
year.
We understand that according to current policy James can not get an above par overall
rating due to a below par score on the customer satisfaction measure. However, we will
This is the first year the balanced scorecard was implemented. It will take some
satisfaction might be valid. Management should review the survey and get some
input from the branch managers on what indicators should be used to measure
customer satisfaction.
The current review process raises some concerns as well. Presently, a branch
areas. The process can be improved by allowing the manager to self-asses his
own performance and discuss it with his superior. This will allow the process to
the morale of one of our most successful managers and will possibly result in
the marketplace.
Management has a valid concern that if James receives an above par score on
measures in the balanced scorecard and the fact that it will be taken into full
consideration during the performance review after management makes sure the
James should be aware that his concerns with the customer survey and consistently
exceptional performance were the main reason for management’s decision to give him
an overall above par rating. He should also be told that in the future he will not get an
above par rating if he fails to score par on all the measures. James should be aware
that management will not disregard non-quantifiable measures in the future as steps are
If James is aware of all the things mentioned in the answer to the previous questions,
he will continue to consistently exceed the expectations of his superiors. Since James
will see from his performance evaluation that management values his efforts, he will
continue to work as hard or even harder than before to ensure that his branch remains
#1 in the marketplace.
The balanced scorecard should not be rolled-out to other regions at Citibank without
some revisions. James has already raised some concerns about the adequacy of the
survey that measures customer satisfaction. His main concern is that the survey
measures not only branch services but also centralized services such as ATMs that are
The survey can be revised in order to better meet the performance evaluation needs. It
is possible that several surveys will need to be developed in order to better assess the
different branches based on different types of customers served by them. This will
result in increased costs but will allow for closer gauging of the performance of the bank
The concerns about the current review process were also raised above. The manager
measures in order to make the performance review less subjective. In addition, the
discussion of the manager’s performance with his superior will ensure that the manager
is satisfied with his performance evaluation and will result in increased employee
morale.