Question

In: Accounting

Citibank Performance Evaluation HBS Case Assignment First, read the Citibank case carefully. Then, think about the...

Citibank Performance Evaluation HBS Case Assignment

First, read the Citibank case carefully. Then, think about the following questions (on your own, and in discussion with your team-members, if any). Note that Citibank uses the term “Performance Scorecard” in the same sense in which we use the term “Balanced Scorecard” in class.

  1. Why has Citibank introduced a Performance Scorecard?
  2. How would you have rated James’ performance before the Performance Scorecard was used?
  3. How do you rate James’ performance in each of the five perspectives of Citibank’s performance scorecard, other than Customer Satisfaction?
  4. When thinking through each of the perspectives, please think about the nature of each set of measures for the various perspectives: are they objective measures or subjective measures?
  5. Now, how did James perform in terms of Customer Satisfaction? (Note: You are not expected to give a simple Yes/No answer here. There are good arguments that can be made in favour of both giving him a good rating and giving him a not-good rating. Please think about and lay out the arguments for both sides, before coming to your conclusion.)
  6. Please think carefully about the measures used to measure Customer Satisfaction. How appropriate are these measures? Please comment on the measures, and any criticisms you may have of the measures.
  7. How are targets/goals decided for each of the perspectives? Do you think that Customer Satisfaction goals need to be decided differently?
  8. Please state and argue your opinion on the following broad issue: What would happen if the financials were good, but non-financial measures were bad? Would James be achieving Citibank’s goals?
  9. After considering all the issues raised above, please state your opinion on whether James should be given an overall “Par” rating or an overall “Below Par” rating. Please describe arguments for both sides before stating & justifying your final opinion.

Prepare a write-up with succinct answers to each of these questions. You may formulate your answers as paragraphs or as bullet points, as long as you convey the necessary information. Please restrict your write-up to 4 sides of letter paper, typed and single-spaced, at the MAXIMUM. All answers and exhibits must be neatly typed and formatted in a readable way. Please note that I am not looking for generalities or cut-and-pastes from the text of the case; every answer must reflect your own viewpoints and arguments, in your own words. Please submit in hard copy on the last day of class.

Solutions

Expert Solution

In order to gain a competitive advantage over the peers in the industry one needs to have information.The Balanced scored is a complete system which is used by the industry and lists in top 10 methods that the companies use.

Merely INVESTING and MANAGING more and more in the Tangible Assets WILL NOT HELP.

In the case of James in spite of being at a successful managerial position he was not able to meet the needs of customer satisfaction. With greater position one has to take care of the customers as they are the non financial aspects of a given enterprise.

Even though the performance of James other than Customer Satisfaction is good in financial business perspective , internal control and learning growth perspective he does not fair good at customer satisfaction and the major reason of such failure may be that at success one tends to make changes and take lead.One has to be careful while dealing with customer as even a slight mistake can leave a bitter opinion.Active listening is another area where the focus has to be kept and areas to such other opinion of customers have to be taken note of and needs to also MOBILIZE and EXPLOIT the Intangible Assets.Thus James can be rated 3/5 as the base of the business is a customer and if the customer himself is not satisfied it is difficult to run business.However without customer satisfaction included in it the score would be a perfect 5/5 as the business gains all the advantage in financial and new customers shows a growth perspective. Moreover it is a necessity to maintain an old customer rather than only gaining new customers.Also the Customer business perspective affects the other two perspective namely business perspective and learning and growth.Hence it can be stated that the rating of James are at par subject to customer satisfaction in which case it would be below par.

Thus James has to even learn to manage the customers opinion in a better way.

Thus, one not only has to focus on the tangibles but also on the intangibles that cannot be seen.

The Balanced Score card focuses on 4 business perspective as defined by Robert S Kaplan and David P Norton.

1. The Financial Perspective

2. The Customer Perspective

3. The Internal Business Perspective

4. The Learning and Growth Perspective.

The four perspectives of Balanced Scorecard can be summarized as follows

The chart states the outline of the BALANCED SCORECARD in any organisation
FINANCIAL
HOW THE BANK APPERS TO THE SHAREHOLDERS/OWNERS
Objectives Measures Targets Initiatives
To Grow in the terms of financial aspect of Citi Bank Cost effective by increasing the revenue or cutting the cost. Frequent analysis of the information available Improvement in the areas of defect an initiatives to improve the same.
James performance in this area is exteremly good.
CUSTOMER VISION AND STRATEGY OF CITI BANK INTERNAL BUSINESS PROCESS
How should we appear to our customers to achieve vision
Objectives Measures Targets Initiatives Objectives Measures Targets Initiatives
To Grow in the terms of customer satisfaction and feedback of customers. An analysis of the reasons for such feedback from the customers and is there a scope to consider it. To train the employees and give them an analysis and differences between the business clients and employees. Frequent analysis of the feedback available from the customers Better Training and improvement in all aspects. Merely dictation of terms is not an option however have to make them understand what is required of them. How to satisfy the customers and which are the processes that the bank excel at. Identify the processes and activities necessary for the business identified at financial and customer business perpspective level. Analysis of the reviews of the feedback and the common grounds for Customer help line and toll free numbers can be updated to gain an overview of the customers opinion.
LEARNING AND GROWTH
Objectives Measures Targets Initiatives
To achieve all the vision and growth how willl the company change and improve To improve in all the areas that has a defect presently in the growth of the organisation Whether there is an impact of this negatively on the growth aspect of the company and how can the same be treated Improvement in the Sources of Growth: 1.People (Employee Capability) 2. System 3.Organisation Process

Related Solutions

PLEASE READ CAREFULLY BEFORE STARTING THE ASSIGNMENT!!! I ALREADY HAVE ANSWERS FOR THE FIRST JOURNAL TABLE...
PLEASE READ CAREFULLY BEFORE STARTING THE ASSIGNMENT!!! I ALREADY HAVE ANSWERS FOR THE FIRST JOURNAL TABLE AS YOU CAN SEE BELOW, BUT I DON'T HAVE THE ANSWER FOR THE SECOND JOURNAL TABLE. I FOUND MANY ANSWERS FOR THE SECOND TABLE HERE ON CHEGG. BUT NOT ONE HAS A CORRECT ANSWER. FOR SOME OF THEM IT'S COMPLETELY DIFFERENT ANSWERS ALTHOUGH THE QUESTION IS THE SAME. PLEASE ANSWER THAT TABLE CAREFULLY AND CORRECTLY. USE THE SAME EXACT TABLE THAT I PROVIDED BELOW...
After reading the article, think about your last performance evaluation in janitorial services or a school-related...
After reading the article, think about your last performance evaluation in janitorial services or a school-related evaluation. In your initial post, describe this evaluation. How did you feel walking out of that meeting with your manager or professor? Was it meaningful and effective? Did you have a clear understanding of your performance? Did you understand your goals and objectives? Next, consider the “new keys to success” discussed in the article. Address the following additional questions in your initial post: Could...
Please read the instructions and  find attached for the first wiki . Instructions for students: Read carefully...
Please read the instructions and  find attached for the first wiki . Instructions for students: Read carefully the attached document and then post your comments bearing in mind the following questions: 1- What are the pros and cons of rent controls? 2- Why economists disagree on the usefulness of rent control? 3- Do you believe rent control can help the poor? Edit Wiki Content rent control Rent regulation can take various forms, including rent control (the placing of a cap on...
a. Read the case carefully and answer the questions that follows: Solomon is trying to reduce...
a. Read the case carefully and answer the questions that follows: Solomon is trying to reduce wastage of resources in his company. He is trying to do it in the best possible manner. He has set standards for performance of different types of activities and is doing his level best to perform according to these set standards to minimize wastage of resources. Things are not going to be over for him as he will have to look into other aspects...
This assignment is intended to encourage you to think holistically about what you have read so...
This assignment is intended to encourage you to think holistically about what you have read so far in your Fried and Fottler text and supplementary materials. It will encourage you to look for connections between workforce planning and the impact of globalization. In 250 words or less, describe a situation in which foreign trained health care professionals were hired to address the short supply of U.S. trained health care professionals; for example, shortages in physicians and nurses. In your description...
Coworker Interactions Discussion Forum The goal as you read this is to first think about how...
Coworker Interactions Discussion Forum The goal as you read this is to first think about how the person’s culture may be causing the conflict, then to think about how you would resolve the conflict. You may read the scenario and see nothing at all wrong; perhaps you would act the same as the person described as your frame of reference is similar. How you view these scenarios is completely dependent on your own frame of reference. Your answer may very...
Case Study Analysis Read carefully the following case/scenario and answer the questions given at the end....
Case Study Analysis Read carefully the following case/scenario and answer the questions given at the end. A manufacturing company, involved in the business of food processing, faces a technical problem at one of their major plants. Recently they faced a technical issue which resulted in loss of production and was fixed by engaging their mechanical staff. Now this technical problem can result in even bigger loss of production and if it gains attention of public through social or electronic media,...
Using the techniques described in this chapter carefully read through the case study and determine the...
Using the techniques described in this chapter carefully read through the case study and determine the most accurate ICD-10-CM code(s) and external cause code(s) if appropriate. Remember, check the chapter specific, sub-chapter specific and category specific notations within the Tabular list. Patient: Lorraine Parnete Physician: Jason Nuouri, MD July 16, 2018 History A well-established, 67-year-old female patient (since 1991) has controlled hypertension with no complications. She is a smoker [cigarettes, about one pack a day] and takes clonidine and HCTZ...
Read the following case study carefully and analyze it by answering the three Questions for Discussion.   ...
Read the following case study carefully and analyze it by answering the three Questions for Discussion.    Hot-Shot Pix is a global digital camera manufacturer headquartered in the U.S.  The company designs, manufacturers and sells various digital camera models at different price points through various channels.  Design is carried out at the company’s R&D labs located in England and the U.S.  The company manufactures cameras at four different locations:  one factory is located in Singapore and supplies the Asia-Pacific region; another factory is located in...
Section 2 - CASE ANALYSIS (30 marks) INSTRUCTIONS: 1. Read the case below carefully and answer...
Section 2 - CASE ANALYSIS INSTRUCTIONS: 1. Read the case below carefully and answer ALL the questions which follow. 2. Your answers may be entered using a Microsoft Excel spreadsheet OR may be entered in a table format using Microsoft Word. HEALTHY OPTIONS INC. Healthy Options is a Pharmaceutical Company which is considering investing in a new production line of portable electrocardiogram (ECG) machines for its clients who suffer from cardiovascular diseases. The company has to invest in equipment which...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT