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Balanced business scorecard, Wells Fargo
Wells Fargo's 2001 annual report states that the company's vision is "to satisfy all our customer's needs, offer them sound financial advice and help them succeed financially." Similarly, the 2002 annual report (p. 16) states that the vision is "to earn all our customers' business." Both annual reports list the following 10 areas of strategic initiatives that the company has been benchmarking itself against for several years:
1. Investments, Trust, Brokerage and Insurance2. Going for "Gr-eight"! (Increase the average number of products per customer to eight)3. Doing it Right for the customer4. 100 percent bank and mortgage/home equity cross-sell5. Wells Fargo cards in every wallet6. When, where, and how7. Information-Based marketing8. Be our customers' payments processor9. Outstanding customers10. People as a Competitive advantage
The 2001 and 2002 annual reports provide some specific measures within the initiatives. Based on the annual reports and any other information you are able to find, develop a Balanced Scorecard for Wells Fargo that will help it achieve its vision and monitor its performance on the strategic initiatives.
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