It was established in New York and is the consumer division of the multinational Citigroup. Today it is a large bank which operates globally in 35 countries and has more than branches. They are well-positioned and well-diversified and one of the leading banks in the world. The bank was hit by the recession in and was aided by the government to survive, however today they have paid the loan back in full.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. James has been not just an exemplary employee in the area, but really someone who other branch managers could always look up to. His career with Citibank has been a quick progression through the ranks from the assistant branch manager to the manager position at the most important of all the bank branches in the Los Angeles area — the Financial District office.
His performance has exceeded expectations in every single year. His financial results have been truly impressive. At the same time Frits Seegers, President of Citibank California, was convinced that customer satisfaction indicator was important not only for meeting ever-increasing expectations of highly-sophisticated clients, but also for achieving strategic goals of the division, and staying competitive.
The supporting reasons for the same have been listed below: The customer satisfaction scores have improved in the 4th quarter from 54 to This indicates how seriously James has tried to address this issue and his hard work is paying off.
The branch that James is handling is the toughest branch in the division. The clientele is demanding and it faces a lot of competition. Keeping this is mind, the same rules and policies cannot be applicable for this branch as is applicable to other branches as the environmental factors differ.
Also, customer satisfaction survey also includes rating not just the branch performance but also the services such as ATMs. These are out of the ambit of the branch managers and hence the survey can be regarded as inadequate.
James has been performing well on all the measures financial, strategy, control measures, people and standards. He has performed well on customer satisfaction in last quarter by making some changes in his staff to improve branch performance.
He introduced some new ways to address the issue of customer satisfaction. To reward this initiative, it is important that we positively reinforce the desired actions and results.
For that it is important that Citibank acknowledges his hard work and reward him so that he would continue to put in efforts in the future. It includes both qualitative and quantitative measures. They provided 6 areas for the evaluation in their scorecard. Executive performance needs to be judged on success at meeting a mix of both financial and non-financial measures to effectively operate a business.
The fundamental cause for strategic success has to do with people and his scorecard is not aligning goals along the reporting chain. Reinforcement plan should be used in this case.
Constructing a plan that focuses on positive reinforcement is a slow and gradual process that gives employees time to grasp the philosophy associated with teamwork and maintaining a sense of reliability and responsibility when it comes to group projects in which everyone is expected to participate.
More essays like this:Citibank: Performance Evaluation. Performance management is about creating relationships and ensuring effective communication Its about focusing on what organisations, managers and team members need to succeed.
3 types of ratings for each performance indicator. Below-par, Par and Above-par. Evaluation was determined jointly by a team led by Frits Seegers.
Bonus linked to final performance score card rating. A manager could not get an “above par” rating without “par” ratings in all the component.
Citibank: Launching the credit card in Asia Pacific Country entry strategy Objectives of this case To understand market evaluation, target market selection, and product positioning issues in services operations. To appreciate globalization/country entry issues in financial products.
To understand the underlying economics of customer. Oct 30, · The balanced scorecard tracks all the important elements of a company’s strategy—from continuous improvement and partnerships to teamwork and global scale.
Citibank: Performance Evaluation. Citibank: Performance Evaluation case study solution, Citibank: Performance Evaluation case study analysis, Subjects Covered Control systems Implementing strategy Incentives Performance appraisals Performance measurement by Robert L.
Simons, Antonio Davila Source. CASE “Citibank: Performance Evaluation” This realization is what underlies the decision of the top management to develop and complete the former Citibank’s performance evaluation system mainly based on financial measures.
In , a new Performance show more content.