Wells Fargo OFS
The company
The competitors:
Bank of America Citibank Chase
Industry size:
Fourth largest bank in US by asset
Largest bank by market capitalization
Second largest in deposits, home mortgage servicing, and debit cards
In year 2012
Asset 1,442,000,000.00
Total Revenue 86,086.00
Operating Income 28.471.00
Net Income 18,897.00
Employee 269,200
Branch 6,289
Online Banking
Financial Services
First electronic banking product in 1989
First major U.S. bank to offer Internet access
Wells Fargo Online Financial Services (A) Harvard Case Solution & Analysis
Wells Fargo, the leader in electronic banking transactions Balanced Scorecard in its online financial services group (OFS) to track and measure performance. OFS Group develops and supports services that allow existing and future customers to transact banking over the Internet. The new division is facing rapid change and must invest heavily in new technologies and the development of innovative products and services. OFS has been found difficult to balance the need for a clearly articulated strategy and measurable goals with the flexibility required in a dynamic environment. Wells Fargo was a culture that encompasses financial performance. However, OFS management believes that its business can not be measured and evaluated on the basis of financial indicators alone. For example, the group was not yet profitable, but under the condition that a critical component of long-term strategy of the bank. OFS Group believed that the Balanced Scorecard will allow them to develop a number of complex, multi-dimensional measures for assessing the performance of its objectives and to communicate and update their strategies in a rapidly changing environment. “Hide by Robert S. Kaplan, Nicole Tempest Source: Harvard Business School 18 pages. Publication Date: June 12, 1998. Prod. #: 198146-PDF-ENG
Abstract
Wells Fargo, the industry leader in electronic banking, has implemented a Balanced Scorecard in
The competitors:
Bank of America Citibank Chase
Industry size:
Fourth largest bank in US by asset
Largest bank by market capitalization
Second largest in deposits, home mortgage servicing, and debit cards
In year 2012
Asset 1,442,000,000.00
Total Revenue 86,086.00
Operating Income 28.471.00
Net Income 18,897.00
Employee 269,200
Branch 6,289
Online Banking
Financial Services
First electronic banking product in 1989
First major U.S. bank to offer Internet access
Wells Fargo Online Financial Services (A) Harvard Case Solution & Analysis
Wells Fargo, the leader in electronic banking transactions Balanced Scorecard in its online financial services group (OFS) to track and measure performance. OFS Group develops and supports services that allow existing and future customers to transact banking over the Internet. The new division is facing rapid change and must invest heavily in new technologies and the development of innovative products and services. OFS has been found difficult to balance the need for a clearly articulated strategy and measurable goals with the flexibility required in a dynamic environment. Wells Fargo was a culture that encompasses financial performance. However, OFS management believes that its business can not be measured and evaluated on the basis of financial indicators alone. For example, the group was not yet profitable, but under the condition that a critical component of long-term strategy of the bank. OFS Group believed that the Balanced Scorecard will allow them to develop a number of complex, multi-dimensional measures for assessing the performance of its objectives and to communicate and update their strategies in a rapidly changing environment. “Hide by Robert S. Kaplan, Nicole Tempest Source: Harvard Business School 18 pages. Publication Date: June 12, 1998. Prod. #: 198146-PDF-ENG
Abstract
Wells Fargo, the industry leader in electronic banking, has implemented a Balanced Scorecard in