Benchmarks: helping or hurting banking?: An article from: Bank Marketing

This digital document is an article from Bank Marketing, published by Bank Marketing Assn. on June 1, 1993. The length of the article is 2153 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Benchmarks may prove to be baneful for banks if they are inappropriately used. The most common mistake is regarding benchmarks as the goal. If viewed as such, this could lead to stagnation even before improvement is achieved. Another misconception posits that benchmarks are fixed achievements that need no modification despite future changes in the environment. Using benchmarks that are determined by investors and financial analysts, instead of customers, is another misrepresentation. Moreover, a measure that does not consider the personal best of the bank, its strategy and its standards based on targeted customers may ultimately serve as a pitfall. Imitating the products of other banks despite their unsuitability to a bank's strategy or targeted customers is another pitfall. Lastly, applying the 'more with less' as a productivity benchmark, instead of 'focus with fewer,' can also be a downer. Suggestions for effectively using benchmarks are discussed.

Citation Details
Title: Benchmarks: helping or hurting banking?
Author: Janet L. Myers
Publication:Bank Marketing (Magazine/Journal)
Date: June 1, 1993
Publisher: Bank Marketing Assn.
Volume: v25 Issue: n6 Page: p11(3)

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