| Author: | Li, Hang-yuen Henry |
| Title: | The implementation of balanced scorecard in a Hong Kong banking services company |
| Degree: | M.Sc. |
| Year: | 2002 |
| Subject: | Hong Kong Polytechnic University -- Dissertations Banks and banking -- China -- Hong Kong |
| Department: | Multi-disciplinary Studies Department of Management |
| Pages: | vi, 102 leaves : ill. ; 30 cm |
| Language: | English |
| Abstract: | Balanced Scorecard is a well-known new management tool, introduced by Kaplan and Norton in 1992, to address contemporary managerial problems in corporate performance management, business strategies implementation and organization learning. The tool is best known with its balanced approach of measuring corporate performance as compared to traditional shareholder / financial focus. The model adds 3 more perspectives into considerations: customer, internal process, and staff's growth and learning. With the model, if desirable financial outcome not achieved, it gives additional valuable information on 'what went wrong' --- bad strategies or poor implementation or both. The concept is more easily understood than done because of not only the costs and time but also complexity in measuring intangibles in the new perspectives. Besides, the ambition of adding more values to Balanced Scorecard at once [from a performance measurement system to a transformational tool and to a strategic management system] only discourages the implementation. The Wealth Protection Solution (WPS), set up in Hong Kong since 1946, has been providing wealth protection services to wealth clients in the region against political turmoil, unfavourable taxation or exchange control regulations. WPS understands the importance of customers' perception of their services if they are to refer their wealthy family members to WPS (Customer's perspective). WPS also realizes the need to improve its products / services (Internal Process's perspective). And, both of these can only be delivered by a team of well-trained and ever-growing staff force (Growth and Learning perspective). After taken into consideration of WPS's operating and business environment, WPS implemented its scorecard by an alternate approach quite different from what reported in Kaplan and Norton's case studies. Instead of an ambitious one-off design and implementation of a complete Balanced Scorecard, WPS took a partial implementation alternative in view of the organizational culture of reliance in financial measures and the direct competition of system development resources with product development. By reviewing, comparing and contrasting WPS's implementation approach adopted against scholars' insights, recommendations were made to improve WPS's model. And the improved model should provide some values to other banking services companies in making their first step out to implement Balanced Scorecard. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| b16154423.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 3.49 MB | Adobe PDF | View/Open |
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