Customer Perspective of Balanced Scorecard: An Empirical View of Company's Performance from Customer Outlook (An Inter-Bank and Inter-Sector Comparison of Public and Private Sector Banks in India)

The performance of an organization in terms of Customer's experiences with the value created by them is measured through Customer Perspective of Balanced Scorecard. Strategic focus areas under this perspective are achieving high customer satisfaction, customer retention, growth in customer's accounts, improving market share, providing best after sales services etc. This research paper focuses on importance of Customers Perspective of Bank's Balanced Scorecard and aims to identify the significant difference between and among Public Sector Banks and Private Sector Banks on this perspective. For accomplishing the objectives of the study, a sample of 10 Public Sector Banks and Private Sector Banks has been selected. 8 variables for 4 strategic objectives have been selected to measure the performance on customer perspective. Data have been compiled through secondary sources. Performance is then measured and scored on the basis of performance scale. Hypotheses have been tested through non-parametric methods using IBM SPSS22. A significant difference has been found among Public Sector banks and among Private Sector banks when an inter-bank comparison has been drawn and no significant difference has been found between Public Sector Banks and Private Sector Banks when an inter-sector comparison has been drawn. Latter part of the paper includes the recommendations given for improvement in strategic performance on customer perspective of the Indian banks.