Reduce Business COST
The market is changing way too fast and it has made doing business more difficult and challenging. The economic uncertainty has also not helped with the continuous rising cost in almost everything especially doing business. The 6% GST has also not helped and it is expected to increase further by next year. So what do we do about it? How do we overcome such challenges?
The good thing is that we have already been planning for this since 2015. We have streamlined our businesses to be more focused on its resources. We have sold & closed non-core and non-profitable businesses since 2015. Our focused is now solely on education. We have also streamlined on program & service offerings. We have also put in place processes to have better internal control systems to manage and control internal/external resources. Thanks to Carole. A growing organisation must have a solid foundation and internal control system. If you get questioned by Carole or you do not get things approved so easily, you do not blame her for making your work life difficult. It is purely MY INSTRUCTION and DECISION. If you do not like to a grow with us further, I wish you all the best as you take your own directions further. This is fine as people come, people go. Most importantly, come on a good note and leave on a good note. The business world is a very small world.
We have a clear direction and focus on where we want to be by 2020. A Public Listed Company. 2017 will be a very big year for us and you will all hear more on 4th December 2016 in our ATCEN Education Group Strategic Direction & Business Plan Meeting. Lock that date down as I will share with you what we will be doing in the next 4 years. As such, the remaining of 2016 is critical for us to put in place the right team and right system to grow & sustain our businesses to achieve our very own Vision 2020.
For the team’s better understanding I have explained the cost reduction strategies below.
a) The idea of doing more with less.
Whenever you decide to do something within the ATCEN Education Group, always ask if this is going to achieve more with less. More in terms of ROI, results, revenue & relationships. And Less in terms of expenses, resources, people & time. If you can just focus on whatI have just stated, you will be able to help the organisation to reduce more cost in doing business. Leverage on technology and we will be serving even more as we launch our new Learning Management System for PORTMAN College. Asia is waiting for us.
b) Optimising on what we already have.
Over the many years of doing business, I have personally experienced our team members taking it lightly and for granted that we will always have budget to buy/ purchase whatever we needed as we do spend lavishly on equipments and facilities. Due to the incompetency of some previous staff that did not care enough to handle our resources and equipments, and also did not return items to its respective place, things are always broken and lost. This has also caused a lot of unnecessary expenses. So before you think about asking the company to spend on anything, please ensure that you have checked carefully and asked enough question within the organisation to make sure that we have exhausted all resources before we purchase/ buy anything.