Workshop 7: LetsMove Performance Measurement, Balanced Scorecard and Strategy Map LetsMove is a transportation company in Cornwall. Its main customer, MineralUK, is a mining company that employs LetsMove to transport slate mineral deposits to a nearby manufacturing facility. Profits for the last three years have been substantially lower than were expected by the managing director, Karen Albright. Karen was convinced that the company needed to adopt a revenue growth strategy to improve profits and to prevent LetsMove from going out of business. She believed that, in order to grow the company, orders could be expanded to non-mining customers in the area, thus increasing market share. She initiated a comprehensive marketing campaign in order to attract new customers. After one year, the following review of company performance showed continued disappointing results: Current year Prior year Number of deliveries 502 610 Market share 39% 44% Profit E699,432 E873,865 Annual costs (450,982 (310,659 Frustrated by these results, Karen hired a local consultant to examine the company's operations and to help build a viable strategy for revenue growth. After a careful review, the consultant made the following observations: Fuel prices have increased dramatically within the last year. Best practice within the transportation industry (especially in relation to the transportation of minerals) is to equip vehicles with specialised cargo securement equipment. The majority of LetsMove trucks do not use such equipment. The shipping manager at MineralUK has recently written a letter of complaint regarding the damage done to mineral loads during transportation and the considerable delays with delivering these loads to the manufacturing facilities. Staff members (truck drivers) often find themselves in dangerous positions where mineral loads become unstable. Unsure of appropriate safety procedures the drivers often injure themselves whilst attempting to secure the loads. As a result, employing and retaining staff is problematic and costly, and many drivers have successfully claimed compensation from LetsMove. Required: (a) (1) Assess how LetsMove currently measures performance, outlining any limitations these measures may have on the company's strategy of revenue growth. (ii)Explain why a strategically oriented performance measurement system would be more beneficial. (b) Design a strategic performance measurement system that includes the following: (i) A balanced scorecard with both lead and lag indicators (ii) A strategy map, giving explanations for four linkages that you propose, linking to the information in the case study where possible