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
-
Trust
-
Respect
-
Innovation
-
Pride
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:
Anuja Ravendran
In interview with:
Stephen Alby
Executive Director of Financial and Control Nestle.
Business and accounting
Accountant Today
January 2006
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