Westpac Bsc Essay
In recently years, the companies are competing in dynamic and complex environments. Consequently, the traditional measure results through financial reporting are lack of ability to meet actual performance in operated processes. The balanced scorecard is an approach to performance measurement that combines traditional financial measures with non-financial measures to provide managers with richer and more relevant information about the activities they are managing. After the first introduce in the early 1990s, balanced scorecard has been widely used by many companies, it has provided benefits and convinces to companies. However, not every company can successfully handle it. As a result of this, this report will identify …show more content…
2.2 Company Process
As the Profit announcement report which publishes last year indicated that Westpac’s main company processes are in several different operations. The business units of Westpac include:
• Business Consumer Banking (BCB)
BCB is responsible for all Australian retail banking franchise operations, product development, sales and services for all retail banking customers. BCB’s activities are performed though a nationwide network of branches, including call centres, ATMs, internet banking and mobile sale forces. BCB’s front line staffs are responsible for the sale and services for a broad range of financial product including home, personal and business lending, savings and investment accounts, credit and wealth products.
• Westpac’s institutional bank (WIB)
WIB meets the financial needs of corporations and institutions either based in, or with interests in Australia and New Zealand. It provides services including the manufacture and origination of structured products to middle market banking customers.
• New Zealand retail operations
This comprises the New Zealand banking operations and wealth management business