Write a memo response to the below: Assume you are HiramTo: Hiram Phillips, CFOFrom: Keith Randall, CEORe: Follow-up to today’s meeting. 2012Hiram, the meeting today was a little disturbing. On the surface, the results of the newly instituted performance management system seem positive, but they have created some other problems. It is important that we develop a new approach.Please give me your assessment as to why the current system is not working or a strong rationale for why it should not be scrapped. I would like this to include a candid assessment as to what went wrong and how things should have been done differently.In moving forward, it is important that we continue our movement toward having some good performance measures. Please identify and outline three to five new performance measures that we should track—with some explanation with each one as to what this measure is designed to accomplish and how it would be tracked. We will need good definitions for these.I look forward to receiving your response.KDR/dwf