• Bhawna Sharma

Banking industry is always evolving and transforming not just in India but around the world. The processes and innovations in regard to extending services to its customers and various stakeholders have always been critical to their existence, survival and growth. Being a volatile industry that gets affected from any significant event not just at internal level but even in remote and uncontrollable environment, it is essential that the organizations in this sector build up a strong foundation based on internal and controllable factors. Further, the ever increasing competition, and factors like digitalization, demonetization, financial inclusions, increasing NPAs and loan waivers, emerging strong players backed by big corporate houses, introduction of payment banks, online wallets etc. have some-how made it difficult for the existing players to operate freely. In order to keep abreast with the reforms, changing scenarios and challenges, the banking sector have tried and adopted various strategic models and theories, but there are numerous gaps that still remains unplugged. One such model that has been widely accepted, adopted and implemented at the global level is that of balanced scorecard that was devised by Kaplan and Norton (1992). Since the introduction of the balanced scorecard (BSC) (Kaplan and Norton, 1992), it has been considered a very comprehensive and well-liked performance Measurement tool. Both the private and public sectors banks have used this concept and implemented it to improve performance. But the term-balanced scorecard has different interpretations by different authors. Some authors interpret Balance Scorecard as performance measurement system and some as strategic measurement system. Many organizations believe that Balance Scorecard is a performance measurement system which includes both financial and non-financial parameters, whereas Kaplan and Norton claim that a Balance Scorecard is linked with vision and mission of the organization and not only collection of performance measures. The current study was undertaken after taking a note of the existing literature and finding the research gaps and intended to study and identify the practices under balanced scorecard specific to banking industry and more specifically to the private sector banks. The present study studied, identified and explored the customer perspective of balance scorecard practices in private sector banks. The undertaken quantitative research was exploratory cum descriptive cum diagnostic in its nature. The survey sample consisted of 200 bank executives from middle and top management of 10 private sector banks having retail operations in India. Secondary as well as primary sources were used for the data collection and standard statistical tools were used for the analysis. The findings revealed that all the practices of customer perspective of balanced scorecard are significantly implemented to the private sector banks in specific and the whole banking sector in general.

Balance Scorecard, Management tool, Customer perspective, Retail Banking

"sA Study of the Implementation of Customer Perspective of Balance Scorecard in Private Banks ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.3, Issue 8, page no.2384-2395, August-2016, Available :http://www.jetir.org/papers/JETIR1701387.pdf

"sA Study of the Implementation of Customer Perspective of Balance Scorecard in Private Banks ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.3, Issue 8, page no. pp2384-2395, August-2016, Available at : http://www.jetir.org/papers/JETIR1701387.pdf