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  • February 1995 (Revised June 1999)
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  • HBS Case Collection

Chemical Bank: Implementing the Balanced Scorecard

By: Robert S. Kaplan and Norman Klein
  • Format:Print
  • | Language:English
  • | Pages:19
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Abstract

The retail bank division of Chemical Bank faces declining margins and increased competition in its credit and deposit gathering and processing business. It wishes to implement a new strategy to become a preferred financial service provider to target customer groups. The division adapts the balanced scorecard to clarify and communicate the new strategy and to identify the key drivers for strategic success. The case describes the development of strategic objectives and measures for four perspectives: financial, customer, internal, and learning growth, and the process for implementing the new measurement and management system.

Keywords

Balanced Scorecard; Adoption; Growth and Development Strategy; Communication Strategy; Customer Relationship Management; Management Systems; Performance Evaluation; Banks and Banking; Measurement and Metrics; Banking Industry

Citation

Kaplan, Robert S., and Norman Klein. "Chemical Bank: Implementing the Balanced Scorecard." Harvard Business School Case 195-210, February 1995. (Revised June 1999.)
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About The Author

Robert S. Kaplan

Accounting and Management
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  • We Need Better Carbon Accounting. Here's How to Get There. By: Robert S. Kaplan and Karthik Ramanna
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  • Sustainable Strategies and Net-Zero Goals By: Mark L. Frigo, Robert S. Kaplan and Karthik Ramanna
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