I enjoy understanding how firms compete and achieve above average returns in highly competitive industries. What makes a firm differentiate itself so attracting new customers and retaining old ones?
What are the technological and other external threats that companies have to adjust to or die? Determining its’ core competencies and applying them ruthlessly whilst operating at a competitive cost base is essential for survival.
Core competencies for companies are all about attracting and retaining customers because that’s how they grow. Strategic cost management especially in highly competitive industries, need not be a core competency when companies like Auditel are themselves experts in strategic cost management. This is what attracted me to joining the Auditel network.
My commercial background before Auditel was in initially supermarket retailing and then the storage, distribution and marketing side of the oil and gas industry, both highly competitive industries where cost management was a key focus.
I have spent time as chairman of governors of a large co-ed school so understand the financial constraints schools have to struggle with whilst trying to excel in educating students (their core competency).
Contact me to discuss more about my experience of how strategic cost management is needed to achieve a competitive cost base; i.e. a cost base superior to closest competitors to enable companies to achieve higher than average industry earnings.