Bus 400 Sec A
30 October 2007
"Citibank Case Analysis"
Through reading the article titled "Citibank: Performance Evaluation" and performing my own in-depth case analysis, I was able to analyze the issues Citibank California was confronted with and determine possible solutions to help run their business more successfully. Although Citibank is a well-run corporation that made necessary improvements in an effort to gain a competitive advantage over their main competitors, Bank of America and Wells Fargo, a main area that needs improvement is clear: customer satisfaction. As Frits Seegers, President of Citibank California, identified, without improving customer satisfaction, the extreme success that Citibank was experiencing through financial profits, would be extremely temporary. As a result of reading this article and through concepts learned in class and through the text, I have developed some recommendations that may help Citibank in the future. History:
James McGaran was the manager of the most important of the 31 Los Angeles area Citibank locations and as a result, his Performance Review was perhaps the most important for the expected success of Citibank California. Located in the financial district, the branch had a staff of 15 people, revenues of $6 million, and $4.3 million in profit margin. With a diverse customer base, this specific branch reached many different business people as well the typical home banker. Competition for the branch was extremely intense with competitors branches within a block of McGaran's branch.
McGaran's performance reviews exceeded expectation every single year and he delivered impressive financial statistics in yearly reviews. However, when the company implemented a New Performance Scorecard that measured non-financial statistics for each branch, McGaran's performance was sub-par thus exposing a need for improvement within the customer service department. Citibank Strategy:...