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Use the downturn to your advantage
Flexibility is the name of the game when it comes to improving your operational position in a downturn. Now is probably not the time to save money by cutting back your marketing budget, but it is the time to make some hard-nosed decisions about what it is you are going to spend that money on.
Winning companies stay light on their feet, deploying all their resources, including people, in the area of the business most likely to do well in the conditions while directing their operational energy towards tapping the opportunities that arise.
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Case Study
Commercial media company
Faced with very highly competitive market, declining share price and a potential exposure to the threat of a takeover, PwC was appointed to review the businesses operating model of this well known UK media business.
Within a matter of weeks the team identified a number of opportunities to fundamentally transform the level of operating efficiency of the business that would deliver significant and sustainable cost reduction. Key recommendations included re-engineering a number of core business functions in a way that delivered against customer demands more efficiently and effectively. Total annualised cost savings identified were in the region of £40m.
© 2008 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
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