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BUS499-Module 1 - Case- The Financial Perspective

BUS499-Module 1 - Case- The Financial Perspective - Essay Example

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Summary

Saatchi & Saatchi is the world’s leading creative advertising agency which has penetrated in 138 offices in 82 countries and has around 7000 employees. These employees’ valuable contribution has made this MNC, which was worth over US$7bn in 2001, gain global presence. The…

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BUS499-Module 1 - Case- The Financial Perspective

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Subject: Business
Type: Essay
Level: Ph.D.
Pages: 4 (1000 words)
Downloads: 2
Author: celestine38

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It is a service based company which offers services like marketing and promotional strategies, advertising scripts and advertising production for media channels, market research as well as forecasting. It is a globally recognized brand which represents global brands like Procter & Gamble, Toyota/Lexus, Visa International, and General Mills/Pillsbury. Charles and Maurice Saatchi, two brothers, founded the eponymous organization and after that in a decade the company grew phenomenally through mergers and acquisition.

This company became popular because of its efficient and creative services to the clients. From the phenomenal growth in 80s the company came to recession in the early 1990 and in 1995 the company went bankrupt. To get better competitive advantages the agencies were linked with common ownership. The management of the company had decided to make changes in two areas of balanced scorecard; these are customer perspective and financial perspective. In terms of financial perspective, the management made the structural changes of the top hierarchy of the organization.

In 1995, the joint directors i.e. the two Saatchi brothers quit this company and Bob Seelert, a senior official of P&G joined as a chairman of the company. Kevin Robert who was a top official of General Foods joined as CEO of in 1997 (Business-Intelligence, 2006, p.3). After this reformulation in the top level, the company started de-merging and publicly announced the next three years strategies of company’s comeback. Those goals were; growing company revenue more than market revenue, 30% of incremental revenue converting to operating revenue, doubling the EPS of the company.

These goals were well accepted by the existing shareholders and become interested to the new investors (Business-Intelligence, 2006, p.3). The new management team found that the different business unit of the company did not have a common goal. They did financial health check by financial prospective analysis of

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