Write 3 page essay on the topic The Financial Perspective bus 499 case 3.
As an initial step to solve the issue, new personnel were appointed at the top level of the organization. The newly appointed chairman, Bob Sleelert put forth the new strategy to be followed whereas the new Chief Executive Officer, Kevin Roberts played the crucial role of implementing the new strategy. The balanced scorecard was set up which was led by the CompaSS director, Paul Melter. The goals were set up by the new management team with a finance perspective. The main objective was to grow the revenue base better than the market. Target was also set to convert 30 percent of that increase as the operating profit and to increase the earnings per share.
A detailed strategy was set up by the management in order to achieve the goals and objectives. Though the company was working efficiently, the different business units were not adding value to the company from the finance perspective. Hence a vision for the new strategy was set up that the company has to be creatively brilliant and financially secure. But the management also knew that the company has to give careful consideration to the needs of its client base, both new and existing, as it was impossible to achieve the targets without the continued support from the customers.
A ‘lead’, ‘drive’ and ‘prosper’ strategy was applied to segregate the business units based on the value of the units to the company on the whole. The ‘lead’ group was the leading revenue and value generators for the company, followed by drive and prosper in that order. This was mainly in the finance perspective, as identifying the lead business units will enable the company to focus on these units. The management can then aggressively look for investment opportunities in these business units. As these were the main revenue generating units and had high potential for growth, the management believed that focusing and investing in these territories will help attain the company’s financial