Key Performance Indicators followed and applied in Bank Asia Limited
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I have prepared this report on "Key Performance Indicators followed and applied in Bank Asia Limited: A case study regarding Corporate Office” to show how the KPI works in practical life of the Bank also to find out the similarities and differences from the theoretical knowledge that I have gained from our text books. A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively a company is achieving key business objectives. Organizations use KPIs to evaluate their success at reaching targets. In any case, a considerable lot of them can't be effectively estimated due to their non-deterministic or subjective nature and estimating execution is convoluted and expensive to make and assess. In Bank Asia Ltd. a yearly target is set at the beginning of each year by a conference. The same format of target is given to the 127 branches of Bank Asia Ltd. by the People Management Division (PMD and then the branch head of each branch distributes the given target to different divisions. The KPI format is same for all the branches, based on activities of different tasks the contents vary. The KPI measurement is done at the end of each year on December. The KPI format is sent to the employees according to their work title and they are given a deadline of approximately 1 month to submit the format by filling it up. The employees assess their performance by themselves first based on their tasks, and then it is submitted to the Line Manager who observes the form and sends it to the Head Office. In case of the Branch heads they also go through self-assessment and send it directly to the Head Office. Branches are under DMD (Deputy Managing Director), thus the DMD evaluates the form. Finally the MD (Managing Director) finalizes the result and adjusts his observations to give a summary of the result. For further query the MD holds a meeting with the branch managers to change the score of KPIs with deep observation.
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