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

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