Publications
Publications
- February 1995 (Revised June 1999)
- HBS Case Collection
Chemical Bank: Implementing the Balanced Scorecard
By: Robert S. Kaplan and Norman Klein
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.)