©2009 ads alliance data systems, inc. confidential and proprietary building business acumen ®...

©2009 ADS Alliance Data Systems, Inc.Confidential and Proprietary

Building Business Acumen®

Acumen Learning

2


How much do you know about Alliance Data System’s (ADS)

Key Success Measures?(or Key Performance Indicators

(KPIs))

Let’s find out!

Important Questions

3


1 - How much Cash was on hand? $______

2 - How much Cash was generated by Operating Activities? $______

3 - What was our Total Revenues? $______

4 - What was our Net Income? $______

5 - What was our EBITDA Margin? ______%

6 - What was our Net Margin? ______%

7 – What was our Return on Assets? ______%

8 - How much did Total Revenue change YOY? ______%

9 - How much did EBITDA change YOY? ______%

10 - How much did Net Income change YOY? ______%

For fiscal year 2010: ADS

Pop Quiz

4


Understand the 10 key performance measures that are important to ADS and the Executive Team.

List and describe the five business drivers all successful businesses must focus on.

Teach specific components of ADS financial statements.

Better articulate company performance & strategy.

Create a personal action plan that can positively impact personal performance and company results.

Learning Objectives

5

©2009 ADS Alliance Data Systems, Inc.Confidential and Proprietary 3

Acumen Means?

6


When Gretzky’s Dad was asked by a reporter, “What makes your son so great?”

“ He skates to where the puck… is going to be.”

(Hockey Acumen!)

He responded by saying;

“Wayne doesn’t skate to where the puck is.”

“The Great One”

~Wayne Gretzky~

7


…the ability to make good business decisions in a timely manner with an understanding of how the decision should impact the business.

3

Acumen Means?

8


Only 5-10% of business start-ups survive past 5 years.

16% of CEOs lose their job every year. Booz Allen Hamilton 5th annual Study

70% of merger and acquisition activity do not live up to expectation. Wall Street Journal 2007

Why do businesses fail?

6

Business can be tough!

9


Every business must focus on five business drivers.

If they do, they will be successful.

If they don’t, they’ll fail.

Let’s Start a Business!

4

Business Acumen:

10


Cash is King!

“Cash is more important than your mother." Al Shugart Former Seagate CEO

“Cash is a company’s oxygen supply.”

-Ram Charan

What happens to a company who runs low on cash?What happens to a company who runs low on cash?

11


Sources of Cash

Can a company have too much Cash?

9

• Earn it •cash from Operation

• Sell Assets•Cash from Investing

• Borrow it•Cash from Financing

Pro: No Cost -Con: Time

Pro: Immediate -Con: Reduces Assets

Pro: Immediate -Con: Cost (Interest)

Cash & Cash Flow

12


Can a company have too much Cash?

1)More attractive in a buy-out.2)Low return.3)Shareholders don’t like it.4)May make poor decisions.

9

Cash

13


Companies ought to keep just enough cash to cover their interest, expenses and capital expenditures; plus they should hold a little bit more in case of emergencies.

Investopedia

How much cash should you have?

14


Cash

8

What is required to grow and maintain the business.

Cash – the bills and coins in the register, petty cash, and cash in the bank. Also includes cash equivalents, like CD’s and other highly liquid investments, that easily convert into cash within 90 days.

Measures

Cash Flow – The cash generation from core business activities calculated from the difference between the cash that flows into and out of the business in a given period of time (month, quarter, annual)

Definition

Definition: Cash

15


(In Millions)

Cash ADS

9

Business Measures and Metrics ADS ADS ADS ADS

2010 2009 2008 2007

Total Revenue $2,791 $1,964 $2,025 $1,962

Cash

Cash and Equivalents $139 $213 $157 $219

Cash as % of Revenue 4.98% 10.86% 7.75% 11.17%

Cash from Operating Activities $903 $358 $451 $572

16


CashBenchmarks

9

(In Millions)

Business Measures and Metrics ADS VISA AMEX Harte-

Hanks, Inc. ACXIOM

2010 2010 2010 2010 2010 Total Revenue $2,791 $8,065 $30,242 $861 $1,160 Cash Cash and Equivalents $139 $3,867 $2,498 $86 $207 Cash as % of Revenue 4.98% 47.95% 8.26% 9.99% 17.85%

Cash from Operating Activities $903 $2,691 $9,288 $95 $166

17


1. What is the basic equation for each statement?

2. What is the purpose of the statement?

3. What are the key numbers and how are they trending?

4. How can you impact each statement?

Epsilon Financial Statements

18


Equation:Cash from operations + Cash from investing + Cash from financing = Net Change in Cash

Purpose:Cash Management

Started Year Ended Year

Net Change in Cash

?

?

19


Profit

10

What is left over after you have subtracted expenses. Can be expressed in dollars ($) or percent (%).

EBITDA/EBITDA Margin– Reflects earnings before interest and taxes.

Measures

Net Profit / Net Profit Margin – Profit after all expenses have been subtracted from sales.

Definition

Definition: Profit

20


Every business must earn a return that is greater than the cost of using other

people’s money.

-Ram Charan

No Margin, No Mission.

-Stephen R. Covey

21


Total Revenues (Sales) $100 100%

- Cost of Operations $ 55

- Provisions For Loan loss $ 14

- General & Admin. (G&A) $ 3

=EBITDA $ 28 28%

-Depreciation & Amortization $ 5

= Operating Income $ 23 23%

-Interest & Other Expense $ 11

-Taxes $ 4

= Income From Continuing Operations $ 7 7%

-Losses from discontinued operations $ --

= Net Income $ 7 7%

Two ways to impact PROFIT

22


Driving ProfitHigh and Low Profit Margins

S&P Average TTM: 11%

Who has much higher profit margins?

Coca Cola 33%Microsoft 30%Google 29%Apple 21%

Why the high margins?

23


Driving ProfitHigh and Low Profit Margins

S&P Average TTM: 11%

Who has lower profit margins?

ExxonMobil 8%Wal-Mart 3.8%Costco 1.7%

Why the low margins?

24


2010

EBITDA $ 772,446

+Stock Compensation Expense $ 50,094

+Loss on Sale of Assets $ --

+Merger and Other Costs $ --

= Adjusted EBITDA $ 822,540

Calculating Adjusted EBITDA

25


Epsilon 613,374 514,272Epsilon 613,374 514,272

ProfitADS

11

(In Millions)


2010 2009 2008 2007

Total Revenue $2,791 $1,964 $2,025 $1,962

Net Income $194 $144 $206 $164

Profit

EBITDA Margin 27.67% 27.14% 29.45% 27.94%

Net Margin 6.94% 7.32% 10.19% 8.36%

26


Epsilon 613,374 514,272Epsilon 613,374 514,272

ProfitLoyaltyOne

11

(In Millions)

Business Measures and Metrics

LoyaltyOne LoyaltyOne LoyaltyOne LoyaltyOne LoyaltyOne

Q2-2011 6 Month 2010 2009 2008

Total Revenue $203 $421 $800 $715 $756 Profit Adjusted EBITDA Margin 26.05% 26.43% 25.58% 28.07% 27.12% Operating Income Margin N/A N/A 21.32% 23.32% 21.51%

27


Epsilon 613,374 514,272Epsilon 613,374 514,272

ProfitEpsilon

11

(In Millions)


Epsilon Epsilon Epsilon Epsilon Epsilon

Q2-2011 6 Month 2010 2009 2008

Total Revenue $188 $344 $613 $514 $491

Profit

Adjusted EBITDA Margin 21% 21% 24.83% 24.94% 25.78% Operating Income Margin N/A N/A 10.61% 9.62% 8.06%

28


Epsilon 613,374 514,272Epsilon 613,374 514,272

ProfitPrivate Label (Retail)

11

(In Millions)


Retail Retail Retail Retail Retail

Q2-2011 6 Month 2010 2009 2008

Total Revenue $351 $720 $1,386 $708 $762

Profit

Adjusted EBITDA Margin 46.68% 48.22% 38.23% 44.49% 48.53% Operating Income Margin N/A N/A 35.13% 39.7% 44.50%

29


Profit Benchmarks

S&P 500 Averages: Net Margin = 11%11

(In Millions)


Hanks, Inc. ACXIOM

2010 2010 2010 2010 2010

Total Revenue $2,791 $8,065 $30,242 $861 $1,160

Net Income $194 $2,966 $4,057 $54 $(23)

Profit

EBITDA Margin 27.67% 60.19% 19.72% 13.30% 2.67%

Net Margin 6.94% 36.78% 13.42% 6.23% -2.00%

30


11

United Parcel Services (UPS) – Avoiding left-hand turns

-92,000 trucks worldwide-Saved over 28,541,472 miles-Saved 3 million gallons of fuel-Reduced insurance premiums-Reduced maintenance frequency and costs

Profit In Action

31


11

How do you individually impact PROFIT?

Capture your ideas on page 11 in the participant guide.

Table Discussion (Page 11)

32


Net Profit Margin

Net Income: 193,737

Total Rev. ÷ 2,791,421

= 6.94%

S&P 500 Ave. = 11%

Indicates:Profitability

(G&A)

SG&A:

• Salaries•Sales commissions•Benefits/Severance• Rental Expense• Bad debt charges• Merger integration costs• Professional services: Attorney fees, Accounting

(Revenue = Sales) = Top Line

= Bottom Line

= EBIT

Equation: Revenues- Expenses= Income

EBITDA Margin

Total Revenue: 2,791,421EBITDA: EBIT 629,220

+67,806+75,420 = 772,446

÷ 2,791,421

= 27.67%

P&L

EBITDA margin =27.67%

Net profit margin = 6.94%

= Net income / Diluted # of shares

33


If your team was able to help generate an additional 100K in revenue by selling more,

what would be the impact on our net income?

34


Statement of Income (P&L)Increase revenue by 100K

100K

55K

55K45K

45K 17K 28K

35


If your team was able to help lower production and delivery costs by 100K, what

would be the impact on net income?

36


Statement of Income (P&L)Lower costs by 100K

100K

100K100K

100K37K

63K

37


Raising Revenues $100M = $28 -or-

Cutting Costs by $100M = $63

What are the implications of each action?

Which is better?

38


Section 3Section 3

x

AssetsAssets Your supplier has suggested that you take delivery less often. What are

the advantages and disadvantages?

12

Street Vendor Case Study

39


Balancing…

Asset Asset StrengthStrength

Asset Asset UtilizationUtilization

&

i.e. cash, inventory and ratings

Assets (Read from guide book p. 12)

40


Assets

12

What we have and how well we use what we have.

Return on Assets (ROA)— percent value of Net Income to Total Assets

Measures

Definition

Definition: Assets

41


13

“In 1912, the Model T for the first time cost less than the prevailing average annual wage in the United States.”

“Ignoring conventional wisdom, Henry Ford continually sacrificed margins to increase sales. In fact, profits per car did fall as he slashed prices from $220 in 1909 to $99 in 1914.”

“But Sales Exploded!”

“Ford demonstrated that a strategic, systematic lowering of prices could boost profits, as net income rose from…

$3 million in 1909 to $25 million in 1914.”~Daniel Gross, Forbes Greatest Business Stories

Example of Profits and Assets

42

©2009 ADS Alliance Data Systems, Inc.Confidential and Proprietary 4

2

Example: Example: Return On…

What we Get:•Income•Earnings•Profit

What it Costs:•Debt•Assets•Capital

43


Assets ADS

13

(In Millions)


2010 2009 2008 2007

Total Revenue $2,791 $1,964 $2,025 $1,962

Net Income $194 $144 $206 $164

Assets

Return on Assets (ROA) 2.34% 2.75% 4.75% 3.94%

ROA = Net Income = $194 = 2.34% Total Assets $8,272

44


AssetsBenchmarks

13

(In Millions)


Hanks, Inc. ACXIOM

2010 2010 2010 2010 2010

Total Revenue $2,791 $8,065 $30,242 $861 $1,160

Net Income $194 $2,966 $4,057 $54 $(23)

Assets

Return on Assets (ROA) 2.34% 8.88% 2.76% 5.78% -1.77%

45


Class Discussion (notes on page 13)

Best practices currently employed by companies, including ours, to improve asset strength and utilization:

Increase revenues. Lower costs. Getting more done with fewer employees. Reducing inventory levels to increase inventory turnover. Spending only on capital (equipment) upgrades that will

provide a return.

46


•What balances?•What is the average price of a home?

46

Why call it a Balance Sheet?

47


Becomes Cash < 1 year

Most Liquid

Least Liquid

Due First

Due Last

Due in < 1 year Balance

Equation:Assets = Liabilities + Equity

Indicates:Financial (asset) Strength

Current Ratio = 1.6

Snapshot in time

48


Growth

14

The ability to increase year over year, quarter over quarter, and/or month over month.

Revenue Growth Measures

EBITDA Growth

“In today’s business world, no growth means lagging behind in a world that grows every day…”

“Investors expect it, employees are energized by it, customers are generally attracted to it and executives are measured by it.”

DefinitionDefinition: Growth

Net Income Growth

49


• Best & brightest leave first.

• Productivity goes down.

• Morale goes down.

• Costs are cut, which limits ability to grow, company becomes less profitable.

Studies Show:

It usually takes 4 or 5 years for the company to recover.

15

Business in Rapid Decline…

50


• Attracts/Retains the best & brightest!

• Productivity goes up = more profit = more cash = more ability to grow!

• Morale is high.

• You have the ability to grow in your career!

Growth gets more time & attention than any of the 5 elements in a public company.

15

Business in Rapid Growth…

51


GrowthADS

15

(In Millions)

Business Measures and Metrics ADS ADS ADS

2010 2009 2008

Total Revenue $2,791 $1,964 $2,025

Net Income $194 $144 $206

Growth

Revenue Growth 42.10% -3.01% 3.22%

EBITDA Growth 44.91% -10.62% 8.78%

Net Income Growth 34.79% -30.36% 25.81%

52


GrowthLoyaltyOne

15

(In Millions)


LoyaltyOne LoyaltyOne LoyaltyOne LoyaltyOne LoyaltyOne

Q2-2011 6 Month 2010 2009 2008

Total Revenue $203.1 $420.8 $800 $715 $756 Adjusted EBITDA $52.9 $111.2 $205 $201 $205 Profit Revenue Growth 6% 8% 11.8% -5.4% N/A Adjusted EBITDA Growth -10% -1% 1.9% -2% N/A

53


GrowthEpsilon

(In Millions)


Epsilon Epsilon Epsilon Epsilon Epsilon

Q2-2011 6 Month 2010 2009 2008

Total Revenue $188 $344.2 $613 $514 $491 Adjusted EBITDA $39.3 $73 $152 $128 $127 Profit Revenue Growth 38% 31% 19.26% 4.68% N/A Adjusted EBITDA Growth 26% 25% 18.8% 1.3% N/A

15

54


GrowthPrivate Label (Retail)

(In Millions)


Retail Retail Retail Retail Retail

Q2-2011 6 Month 2010 2009 2008

Total Revenue $350 $720 $1,386 $708 $762 Adjusted EBITDA $164 $347 $152 $128 $127 Profit Revenue Growth 2% 5% 96% -7% N/A Adjusted EBITDA Growth 23% 27% 68% 1.3% N/A

15

55


GrowthBenchmarks

(In Millions)


Hanks, Inc. ACXIOM

2010 2010 2010 2010 2010

Total Revenue $2,791 $8,065 $30,242 $861 $1,160

Net Income $194 $2,966 $4,057 $54 $(23)

Growth

Revenue Growth 42.10% 16.70% 13.14% 0.05% 5.53%

EBITDA Growth 44.91% 28.96% 109.93% 1.84% -68.71%

Net Income Growth 34.79% 26.05% 90.47% 12.32% -151.96%

15

56


Q2 Earnings Release

57


Q2 Earnings Release

58


• At your table, discuss how you individually impact Growth.

• Capture your ideas on page 15 in the participant guide.

• Be prepared to share one of your ideas with the class.

How can you personally impact Growth?

15

59


People

16

-The External Customer, Vendor/Re-seller, or Internal Customer that has the ability to impact the success of the business...

Definition

Definition: People

60


17

What is more important than meeting customer expectations?

Exceeding?Anticipating Customer Needs & Expectations!

“If I would have asked my customer what they wanted, they would have said a faster horse!”

~Henry Ford

People

61


17

What companies have failed to anticipate customer expectations? What were the results?

– Unprepared for recession and required government bailout

money. Ford secured line of credit prior and retained full ownership.

– decided to move to digital product line. Polaroid did not and is no

longer a serious competitor.

– In 1943, the CEO said the customer need for their product was approximately 5 computers for the entire world.

– Did not move to a digital music player and lost a significant market share to innovative companies like Apple.

• GM/Ford

• Kodak

• IBM

• Sony

Failing to Anticipate customer needs/expectation!

62


• Capitalize on our Leadership in Targeted and Data-Driven Consumer Marketing

• Sell More Fully Integrated End-to-End Marketing Solutions.

• Continue to Expand our Global Footprint

• Optimize our Business Portfolio

2010 Year End Press Release

Goals for 2011

63


What are your best practices in anticipating CUSTOMERS needs?

(Capture ideas on page 17)

• Know your business and how you impact results!• Develop formal processes for listening to customers, both internal and external.• A quarterly meeting with your boss…ask, how am I doing? • What could I do to improve?

64


Individual Activity (Page 17)

Write down a specific action you will take to

anticipate the needs of

(get close to) your

CUSTOMER.

65


Business Drivers (Page 18) Cash

-On hand -Generation

Assets -Strength -Utilization

Growth -Top Line -Bottom Line

Profit -Revenue -Expenses

People-Customers-Employees

66


How will I remember these?

Cash

Assets

Growth ProfitPeople

67


Finding our performance around the 5 Business Drivers

Cash -On hand

-Generation

Assets -Strength

-Utilization

Growth -Top Line

-Bottom Line

Profit -Revenue

-Expenses


68


629 + 143 = 772

139

27.672,791

69


629 + 143 = 772

194 8,272

2,791 1,964

629 + 143 = 772 408 + 125 = 533

139

2,791

194

6.94

42.10

34.79

27.672,791

194 2,791

2.34

44.91

144194

903

1

2

3

4

5

6

7

8

9

10

70


Epsilon Corporation’Key Success Measures

1 ½

0SCORING:Right answer = 1 pointSomewhat close = ½ point (within: 10%)Missed it by a ways = 0 point

35

71


5 Business Driver Review (Pages 8-17)

Cash -On hand

-Generation

Assets -Strength

-Utilization

Growth -Top Line -Bottom

Line

Profit -

Revenue -

Expenses


72


1) Assign one of the business drivers to each person at your table.

Review and Teaching (page 30)

2) Take a few minutes to answer the questions below:

How would you describe this business driver? Why is it important to our organization? How is it measured? How can I impact this business driver in my role?

3) Review with your group the answers you found.

73


What is the Purpose of the Annual Report?

General Communication

Marketing

Compliance

Demystifying the Annual Report (page 21)

74


Which of the 5 “drivers” does your CEO & Chairman emphasize? Why? As table groups, What are Mr. Heffernan’s top 2 focus areas.

What other key initiatives are also being talked about?

Was this a good year or bad year? How can you tell?

Getting to Know Your Company

75


Finding our performance around the 5 Business Drivers

Cash -On hand

-Generation

Assets -Strength

-Utilization

Growth -Top Line -Bottom

Line

Profit -

Revenue -

Expenses


76


Company Reports

LoyaltyOne

Epsilon

Retail

Know Thyself.Know Thyself.--Plato--Plato

77


Finding Competitors Performance Around:

Cash -On hand -

Generation

Assets -

Strength -

Utilization

Growth -Top

Line -Bottom

Line

Profit -

Revenue -

Expenses


78


Use these sources:

1) President Letter from Insight Magazine

2) Website

3) Team Members

4) Others in the Class

To answer these questions on:

What is the basic business model? How would you describe it to an outsider?

Key Objectives for 2011

Opportunities & Threats

What synergies do you see with the other two business lines?

Getting to Know ADS

79


External Factors (page 40)

How does the situation affect:

CashCash

ProfitProfit

AssetsAssets

PeoplePeople

GrowthGrowth

Heads Up!Heads Up!

80


Which External Factor has the biggest impact on Alliance Data Systems? (pg. 27)

Com

petiti

on

Reg

ulat

ion

Cost

chan

ges

Eco

nomic

sta

tus

of ..

.

Tec

hnolo

gical

Adv.

..

Sto

ck M

arke

t

0% 0% 0%0%0%0%

1. Competition2. Regulation3. Cost changes4. Economic status of customers5. Technological Advances6. Stock Market

81


Google And Reuters

82


Competitor Reports

Visa

American Express

Harte-Hanks

ACXIOM

Keep your friends close, Keep your friends close, and your and your enemies closer.enemies closer.

--Lao Tzu--Lao Tzu

83


Finding Competitors Performance Around:

Cash -On hand -

Generation

Assets -

Strength -

Utilization

Growth -Top

Line -Bottom

Line

Profit -

Revenue -

Expenses


84


Use these sources:

1) CEO letter

2) Financial analysis (fill out the NTF)

3) Recent quarterly earnings release

4) One year stock performance

To answer these questions on page 36:

Was this a good year or bad year? How can you tell?

Which of the 5 business drivers are most important to them? Why?

What does this company do that you were not aware of?

Getting to Know a Company (pages 36)

85


Credit Crisis

Who is involved?

U.S. Government Federal

Reserve

Home Builders

Home BuyersMortgage

Companies

FNMA & FHLMC

Rating Agencies

Banks, Insur. Co’s Pushing

more loans. Little over-

sight.

Aggressive rate cuts

after 9/11 to spur

spending.

Buying more home than they can afford.

increase supply of homes to

meet demand.

Aggressive Sub-prime lending.

Did not rate sub-prime loan risk

well.

Over leveraged

with implied government

backing.

Over leveraged.

Did not understand sub-prime

risk.

What does this mean for FCX?

86


The Role of the Stock Market

1) What role does the stock market play?

2) Who cares about your stock price and why?

a. Investors

b. Analysts

87


Analyst Recommendations

September 19, 2011

88


The Role of the Stock Market

1) What role does the stock market play?

2) Who cares about your stock price and why?

a. Investors

b. Analysts

c. Your CEO

d. Employees

3) What are the benefits of a higher stock price?

89


6 Benefits of a Higher Stock Price:(Page 41)

1) Treasury stock is worth more.

2) Secondary offering brings more cash.

3) Better credit ratings = more access to cash at a cheaper rate.

4) More acquisition power.

5) Can attract talented people.

6) More expensive in a buy-out.

90


Market Cap = shares outstanding X stock price

ElementADS Visa AMEX Harte-

Hank ACXIOM

Market Cap. 4.5 Billion 69 Billion 52 Billion .5 Billion .85 Billion

91


The P/E Ratio-ADS(Page 42, 43)

Price (of one share of stock)

Earnings Per Share (for last 12 months)

Price $ 89.02EPS $ 4.55

= 19.5 P/E ratio

92


P/E Ratios

ElementADS Visa AMEX Harte-

Hanks Acxiom

P/E Ratio 20 20 11 12 -

““The P/E ratio tells you what people who have a The P/E ratio tells you what people who have a dispassionate view of your company think of its future ability dispassionate view of your company think of its future ability to make money. It reveals how much of their money they are to make money. It reveals how much of their money they are willing to bet on your success in the quarters and years to willing to bet on your success in the quarters and years to come.come.”” Ram CharanRam Charan

93


ADS Stock Chart

94


ADS and S&P 500

95


ADS and Benchmark Companies

96


CEO Urgency Continuum (Page 49)

URGENT NEAR TERM LONG TERM

CASH PROFIT

ASSETS

GROWTH

PEOPLE

97


Retaining Content over Time

Time

ReviewApplyTeach

15%

52

98


Chances of the idea being incorporated into their life is...

When a Person Says …

*Based on a 1993 Brigham Young University Study

Changing Behavior

“That’s a good idea”… 10%

“I’ll do it!” and commits... 25%

Says when they’ll do it… 40%

Plans how to do it… 50%

Commits to another… 60%

Sets a future specific appointment with the person they committed to...

95%Good Management Technique!

99


Find a Partner now and:1. Set up a specific date and time in 30 days to report your

progress on your action plan.

2. Exchange emails

3. Exchange phone numbers

4. Decide who will initiate the call

5. Determine a back-up plan

6. Transfer this information to your planner or PDA now.

53

Accountability Conversations

100


1. 7 days: Teach one of the principals learned in class today, to someone in your department.

2. 7 days: Discuss your action items with your manager in the next 7 days.

3. 30 days: Read the first 90 pages of: “What The CEO Wants You to Know“

4. 30 days: Get with your class partner and give an account of your progress on your action item(s).

Start now:

1. Build and practice your new business acumen skills.

2. When making decisions, determine how the outcome will impact Cash, Profit, Assets, Growth, People…

Post Course Action Items:

101


Understand the 10 key performance measures that are important to ADS and the Executive Team.

List and describe the five business drivers all successful businesses must focus on.

Teach specific components of ADS financial statements.

Better articulate company performance & strategy.

Create a personal action plan that can positively impact personal performance and company results.

Learning Objectives

102


* nasdaq.com * finance.google.com

* reuters.com * hoovers.com

* yahoo.com * smartmoney.com

Glossary: page 58

Where to Find Information(page 55)

103


One final thought…

People will work hard for a paycheck,harder for a person,and hardest for a reason.

104


Thank You!

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©2009 ads alliance data systems, inc. confidential and proprietary building business acumen ®...

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