Twomey

To further the argument that Twomey proposes is that we must look beyond the statements for growth. For example, employee satisfaction leads to customer satisfaction, which, in turn, leads to repeat sales. This generic example proves that relationships are very important in a business (which is something that an income statement won't tell you). To drive competitiveness within the firm he proposes new ratios be implemented that drive competition between employees. He cites the examples of Wells Fargo's "profit per loan per employee" and Walgreen's "profit per customer per visit". Ratios such as these good for the company as well.

Twomey states that while financial statements (income statements, balance sheets, statements of stockholder's equity, statement of cash flows) are still important, they are becoming less and less relevant regarding the competitiveness of a firm and future well-being. The way forward, he states, is through creation and innovatiogood for the company as well.

Twomey states that while financial statements (income statements, balance sheets, statements of stockholder's equity, statement of cash flows) are still important, they are becoming less and less relevant regarding the competitiveness of a firm and future well-being. The way forward, he states, is through creation and innovatiogood for the company as well.

Twomey states that while financial statements (income statements, balance sheets, statements of stockholder's equity, statement of cash flows) are still important, they are becoming less and less relevant regarding the competitiveness of a firm and future well-being. The way forward, he states, is through creation and innovatio