Tri-C Prepare a report to the Board of Directors that explains how the BSC may be used to help TCCB achieve its strategic goals. Include the following in your report: 1) A table that categorizes each of the measures in Exhibit A2 into one of the four BSC perspectives. State why you placed a measure in a particular perspective. Performance Measures Learning & Growth Internal Business Processes Customer Financial Employee Training Hours New Products Introduced Customer Satisfaction Outstanding Loan Balances Employee Satisfaction Sales Calls to Potential Customers Deposit Balances Employee Turnover New Accounts Non-Interest Income earned from fees on services provided by the bank. Number of Products per Customer Referrals Customer …show more content…
Introducing new products gives customers new options and improves business processes. Sales calls to customers is also an essential element in improving business. For the internal-business-process perspective, managers identify the processes that are most serious for accomplishing customer and shareholder objectives. Companies typically develop their objectives and measures for this perspective after formulating objectives and measures for the financial and customer perspectives. Company use number of sales calls and sales made to related customers value and satisfaction as well as financials. Referrals, thank you cards, and cross sells are also ways to be connected with customers. Based on the products per customer buy and the number of new customers, a company could see how the current business strategy fits the market. New accounts indicate the increase the number of new customers, which is a good performance measure. The more new accounts being opened, the more potential profit the company is going to make. What’s more, the new loaned created indicates that the investors have confidence in the company. Companies might lose customers if they don’t do well in these …show more content…
If customers think the company is providing what they need, they would highly rank the company. Customer satisfaction and retentions are great measurement for the company. Financial: Financial is about “has our financial performance improve?” To see if financial performance has improved, company can look at the measures such as outstanding loan balances. If the outstanding loan balances decrease, it means that the company is doing better. Furthermore, the company can focus on the deposit balances to see if it increases, which indicates improvement. Using a measure as Non-interest income would also be a good performance measure because it would show financial improvement as well as created new loans. 2) Two cause-and-effect chains similar to the one shown in Exhibit A3. Use the measures listed in Exhibit A2 or suggest other measures you feel are appropriate. Be sure to include a causal chain explanation with your