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Essay

Chamical Bank Case

Essay specific features

 

Issue:

Business

 

Written by:

Todd T

 

Date added:

April 19, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

11 / 2820

 

Was viewed:

9731 times

 

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Essay content:

The objective was to position the bank in order to remain competitive in a very challenging and changing business environment characterized by intense price competition, outflow of deposits to mutual funds, rapid technological change and more sophisticated and demanding clients. Micheal Hagerty, head of this division, envisioned Balanced Scorecard (BSC) as a powerful tool to achieve the organizational and cultural transformation required by the Retail Bank in order to articulate and implement this new vision, mission and strategy across all levels of the organization...
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A main objective was to create a performance focused organization. The process of implementation of the BSC systems proved very successful for the Retail Bank because it allowed managers and overall organization to stay focused on key consumer segments and profitability targets. In addition, the process helped the Retail Bank to clarify its main strategy statements, develop clear and well-articulated business objectives for each business dimension and implement a performance measure system to monitor progress...
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