NESTLE MALAYSIA’S RECIPE FOR SUCCESS
1. Always look beyond the calendar year to ensure that there is ongoing dynamic innovation, renovation and distribution drives.
2. Plan how we want the product to be visible
3. Dynamic forecasting:
Provides increased visibility for better planning executed and reactivity.
4. Do the costing right away to have all the information needed.
5. Look at every aspect of the product including
· The raw and packing material
· Cost incurred in the factory
· Cost of distribution
· How to add value to the product to ensure profitability.
6. Dedicated and skilled team with strong values and always looking for opportunity to further fine-tune the business functions
7. Have core values in place
· Nestlé’s care values
8. Established a strong link with customers and develop a high level of trust in our brands
9. Build a strong brand with a team of highly committed people. The key enable is “trust”
10. Offering quality and nutritional value
11. Finance should act as a partner in coming up with elaborate strategies for the business and ensure it is being executed properly.
12. Practice transparent management accounting
· Help reinforce the importance of corporate governance
· Encourages transparency which leads to better financial reporting structures
· Facilitates in area of strategy formation and improvement
Shared from article by:
In interview with:
Executive Director of Financial and Control Nestle.
Business and accounting