For this exercise, we$$ll create a storyboard using the CFO$$s Q$1$ financial update introduced in Exercise $1\mathrm{.}12.$ As a reminder, the background is as follows:You are the Chief Financial Officer for a national retailer. You are responsible for managing the financial well$-$being of the company and your duties include analyzing and reporting on the company$$s financial strengths and weaknesses and proposing corrective actions. Your team of financial analysts just completed a review of Q$1$ and have identified that the company is likely to end the fiscal year with a loss of $$45$ million if operating expenses and sales follow the latest projections.Because of a recent economic downturn, an increase in sales is unlikely. Therefore, you believe the projected loss can only be mitigated by controlling operating expenses and that management should implement an expense control policy $($expense control initiative ABC$)$ immediately. You will be reporting the Q$1$ quarterly results at an upcoming Board of Directors meeting and are planning your communication$$a summary of financial results in a slide deck$$that you will present to the board with your recommendation.Your goals for the presentation are twofold:For the Board of Directors to understand the long$-$term implications of ending the year at a net loss, andGet agreement from the daily operating managers $($CEO and executives$)$ to implement $$expense control initiative ABC$$ immediately.Look back to the Big Idea that you created in Exercise $1\mathrm{.}12($if you didn$$t create one, spend a few moments doing so now!$).$ Complete the following steps with this Big Idea in mind.STEP $1$: Brainstorm! In this first step, brainstorm what details you might possibly include in the eventual presentation. Get a blank piece of paper or a stack of sticky notes and start writing down ideas. Aim for a list of at least $20.$ To aid in the brainstorming process, ask yourself a few questions: Is this the first time you$$ve introduced your Big Idea to this audience? Do you anticipate they will respond favorably or unfavorably? How frequently have they seen the data you$$ll show them$$is it a regular update or will you need to allow time to educate them on unfamiliar terms or methodology? Do you anticipate needing to get buy$-$in from the decision maker on your recommendations? If so$,$ what data points need to be included to help with this process?STEP $2$: Edit. Examine all the ideas you generated in Step $1.$ Identify which are essential and which can be discarded. Create your storyboard or the outline for the presentation. To aid in the editing and arranging process, ask yourself: having identified your audience$$s likely response in Step $1,$ will you start with the Big Idea or will you lead up to it at the end? Which details has the audience seen regularly that can possibly be discarded? What details are new to the audience and may require more time or data behind them? Are there pieces that can be combined?STEP $3$: Get feedback. Grab a partner and have them complete this exercise, then get together and talk about it$.$ How are your storyboards similar? Where do they differ? If you don$$t have a partner who has completed the exercise, you can still talk someone through your plan. What changes would you make to your storyboard after talking through it with someone else? Did you learn anything interesting through this process?