Market reports & researches
LOG IN | Services | Contact | Custom Research



Main Consumer Goods & Retail Retailing Performance Measurement in Retail Financial Services
Publications

(Currently 512486 Items)


Partners


Retailing / REPORT INFORMATION

Performance Measurement in Retail Financial Services

DateDec, 2002
Pages166
Price / format€674 / Hard Copy
€1140 / Electronic

€674 

Report Information | Custom-Tailored Research | Product Trade Lead


Abstract:
 This report is designed to provide an overview perspective on strategic performance measurement for retail financial services organisations.

It is designed to be read by those responsible for the management of financial services organisations and those specifically designing and implementing a variety of strategic information systems.

There has been a temptation to regard information systems from a delivery or technology perspective, rather than considering what is the correct information and how can it be presented in a way that will enable the users of information to act in a sensible manner.

Having a financial background one is only too aware of the problems that individual managers and employees have in understanding information.

One of the main challenges in our world of increasing technology and information is how to make sense of the diversity and volume of stimuli that we all face.

It is always difficult to distinguish substance from 'white noise', to use the statistical term, or in my own favourite phrase, 'verbal wallpaper'.

The added dimension to this problem is that if there is a remuneration system related to the output of certain information systems this can lead to an orgy of dysfunctional behaviour. Behavioural issues should always be borne in mind when considering the nature of management information.





-Strategy should be designed to deliver the objectives of a business.
-The sources of shareholder value are increasingly to be seen in terms of intangibles.
-This report provides a framework for the development of strategy, and the information systems that will assist in its development.
-It integrates strategy development with the generation of information systems to implement strategy. It is vital to ensure that strategy development contributes measurable
metrics that can be used to manage its implementation.
-The report focuses on the different perspectives of policy – customer relationship management, products, distribution channels and other strategic units – and how strategy can integrate the operations of whole organisations.
-A range of examples is provided of the different ways in which retail financial services organisations have implemented their different strategies, and the types of information system that have been used.
-The mechanism of establishing these systems is also considered: the problems they may lead to, and the type of content which they might encompass.





Table of contents:
 Preface 1
Executive Summary 3

Chapter 1: Introduction 5
The strategic perspective6
A note of caution7
Strategy issues in retail financial services8
The environment8
The customer 9
Technology 10
Competition 11
Regulation and risk management 13
What is a strategic information system? 13
The specification of objectives13
The definition of the business 14
A specification of how the objectives are to be achieved 14
Plans and policy 14
Conclusions16

Chapter 2: Problems with Strategic Information Systems 17
Introduction17
The consistency of strategic management information systems 17
The relationships between strategy and organisational units18
How much information can managers absorb?18
'What cannot be measured cannot be managed, and
what is measured gets done' 21
Conclusions23

Chapter 3: The Strategic Framework
as a Basis for Performance Measurement 25
Introduction25
Introduction to strategy 25
Old and new performance measures 26
Measuring the intangibles 28
Strategic measures in financial reports 32
Benchmarking of retail financial institution efficiency 41
Defining efficiency41

Chapter 4: Strategy Generation and Implementation 47
Introduction47
What do we want from strategy? 47
The practicalities of strategy 48
The process of strategy formulation 49
Strategy implementation50
Conclusions51

Chapter 5: Objectives 53
Introduction53
Stakeholders and agenda-setting53
Owners54
Regulators 60
Managers63
Customers65
Employees66
Communities67
Suppliers and joint ventures 67
Considering the objectives 67
Conclusions69

Chapter 6: The Matrix of Management Information 71
Introduction71
The background to strategic information systems 71
Units within the organisation 74
Customers74
Products74
Distribution channels 74
Organisational units75
Business units 75
Processes75
Decisions 75
Cost categories 76
Strategic information systems 76
Budgetary and planning systems – financial76
Budgetary and planning systems – non-financial77
Ad-hoc analytical systems 77
Operational systems 78
Information gathering systems 78
Conclusions78

Chapter 7: The Scorecard Perspective 79
Introduction79
Scorecards – an overview 79
Examples of scorecards81
'Metro Bank' and 'National Insurance'82
Further examples86
The attributes of a successful scorecard90
Strategic embodiment 91
It should not be over-financial 91
It should be implementable91
The subject of a learning process91
A balanced scorecard92
Putting the scorecard into the management process 92
Finding appropriate indicators 92
Ensuring the scorecard impacts on the whole organisation 93
Relating the scorecard to the planning and budgetary process 93
Relating the scorecard to business decisions and initiatives 94
Remuneration 94
A consideration of the scorecard94

Chapter 8: Information Units 97
Introduction97
Customers 98
Customer relationship management and customer strategy 98
Customer financials102
The customer relationship is a gamble 104
The customer relationship is long-term 104
The customer may be part of a set of relationships 104
The nature of competition in the financial services market-place 104
Social responsibility105
Approaches to customer value 105
Customer segmentation 107
Products 108
Distribution channels 113
Channel management – Norwich Union Life 115
Branches116
Direct sales force120
E-commerce 125
Processes and functional units 128
Conclusions130

Chapter 9: Organisational Types 131
Introduction131
Mutuals and corporates 131
The delivery process for retail financial services133
Separation and concentration in retail financial services134
Customer implications 136
Conclusions136

Chapter 10: Outside Information 139
Introduction139
General consideration of the strategic environment139
The political and regulatory environment140
The economic environment140
The socio-cultural environment142
Technology 143
The industry stage 143
Industry analysis – the competitive environment144
Commodity provider144
Infrastructure provider144
Market maker 144
Relationship manager145
Superior performer145
Innovator 145
Industry analysis – the co-operative environment 146
Mergers and acquisitions 147
Competitor analysis 148
Customer and market segmentation149
Conclusions149

Chapter 11: The Practicalities of Establishing
Comprehensive Strategic Information Systems 151
Introduction151
Scorecard-based systems 151
Scorecard implementation examples 155
Scotiabank 155
Banking 365155
Fortis 156
Financial-based systems156
Knowledge-based management 160
Tools for knowledge management161
The basis for strategic implementation systems 162
Conclusions162

Chapter 12: Conclusions 163
Introduction 163
A cautionary tale 163
The role of financial and non-financial indicators 163
Non-financial indicators 164
Establishing organisational consistency165
Strategy and learning 165
Planning and budgetary systems 165
Conclusions 166




Order this report

  Company name:
  Contact person:
  Phone/fax:
  Email:
  Comments:
   


Product Trade Lead
0 leads found


Add New Buy/Sell Lead

© 2007-2010 MarketReportFinder.com