Wells Fargo Online Financial Services (A) Harvard Case Solution & Analysis

Performance Measurement

Performance Measurement systems

There are various performance measurement systems that can be used in order to measure performance and get update of the progress on daily basis.The performance measurement system that Wells Fargo Bank can implement other than balanced score card includes total quality management,customer value analysis and Cost/Profit Analysis. These performance measurement system allow to improve the quality of the services provided to the customers. Also, it will help to either directly or indirectly interact with customers to minimize the problems related to business growth.

Interactive control Systems

 Interactive control systems allow to track the performance by monitoring and controlling areas that are lacking and require improvement. These interactive control systems involve the continuous process that can help the Wells Fargo to continuously learn, search and also put constant attention on the changing factors that need modifications in order to enhance the growth and met the customer expectations. Although it has decided to implement balanced scorecard, but for implementing this proper monitoring and controlling is necessary.

Balanced Scorecard

Balanced scorecard for Wells Fargo Bank has been develop to focus on the performance measures more than just focusing from financial perspective. These include financials, customers, internal business process, learning and growth that consider both financial and non-financial factors. The implementation of balanced scorecard will provide several benefits to the bank and most important benefit is the visibility of performance at all levels that will help in effective decision making for improvements. Each objective is based on three strategic themes developed by the bank for enhancing and growing its business.


From the financial perspective, the objectives consist of Grow Revenue, Improve Productivity, and Profit Maximization etc. On the other hand, performance measures consist of total revenue of the Bank from different products and services,growth in sales in each month and also evaluation of revenue by product/service.


            In order to with customers, the main objectives for Wells Fargo is to manage attrition, add and retain high value and potential customers, target new customers and to manage customer satisfaction. Customers are the key assets that assist in addressing the key issues regarding quality of product and services. However, retention of current customers is most important therefore,Wells Fargo need to focus more on it along with attracting new potential customers. In order to achieve these targets, it needs to measure customer satisfaction ratio through customers that is to take feedback from customers and measure their satisfaction rate. Along with this, it should focus on reducing the turnover rate through retaining customers by engaging them in company’s activities. These online customers shall be provided with various offers in order to reduce the attrition rate.

Internal Business Process

            The objective for the internal business process should be based on improving the quality of the products and services offered in the form of online features. Along with this, maintaining strong relationship customers and third-party,improving employees satisfaction and confidence, and develop a cost effective and time effective marketing programs must consider as the main objectives for Wells Fargo.

In order to make measures for meeting these objectives, it should focus on the problems that have been the reason for the failure of the internal business process. Furthermore,telephone total service ratio,number and quality of services offered in comparison with Competitors, Customers dissatisfaction and employees’ turnover ratio and quantity of money lend to customers are other parameters for internal business process evaluation. It is vital to overcome employee turnover rate through engaging employees in participating towards decision making. It is necessary for employee remain motivated and must be provided with every facility which are being offered by the company’s competitors.

Learning and Growth

Learning and growth perspective in balanced scorecard need to focus on the areas that can improve the technical and functional skills of employees, alignment of each individual objective with Bank vision and also Flow of useful Information throughout OFS.It is essential to increase the  learning of employees through various activities and interaction. It is also achieve by measuring ratio of successful calls handled by call representative as well as number of complaints and their responses by Bank staff.


 It is concluded that performance measurement system plays an important role in the business performance analysis as it allows to identify the areas that need to improve in order to achieve the business objectives.Therefore, Wells Fargo Bank balanced scorecard provides them the opportunity to grow its sales and productivity by continuously measuring the performance on regular intervals to satisfy the customers need and enhance retention ratio. Hence, it needs balanced scorecard in order to maintain balance among finance, operations, growth and human resources. ..................

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