Embracing Change Strength to strength by Ada Ng Diversified multinational ramps up service level via integrated business model Keeping track of large volumes of information in today's fast paced and complex global marketplace is a real challenge for many corporations. Similarly daunting is the task of reacting to competitors' product changes and marketing tactics. To cope with the relentless changes in the market and soaring demand for enhanced services, market research leader the Nielsen Company recently implemented a corporate restructuring initiative, integrating the independent brands of the company into an all-encompassing Nielsen brand to deliver one-stop business solutions to clients. Launched in 2007, the aim of the integration is to streamline business processes, lower costs and increase convenience for clients, says Fanny Chan, managing director, the Nielsen Company (Hong Kong). The consolidation saw the merging of various arms, this including businesses formerly known as ACNielsen, Nielsen Media Research, BASES and Nielsen NetRatings. "Our ultimate goal is to provide clients with straightforward integrated solutions through enhanced operational efficiency, sophisticated methodologies and cutting-edge technologies while expanding the scope of our business," Ms Chan says. New growth While the individual operations were already market leaders before the integration, Ms Chan notes the company is now better positioned to utilise the combined strengths of the company. "Before the integration, our clients might have used our retail audit service to track retail price and sales performance, without realising that they could also make use of the analysis offered by the company's price consulting unit or our media measurement service to monitor their advertising performance," Ms Chan says. With the new integrated approach, specialists from the different business units are gathered in one team to discuss clients' issues and create synergies and cohesion. "Many product and business management activities hinge upon a complete understanding of the competitive landscape and customer preferences and usage patterns, yet the market is getting increasingly complicated," Ms Chan emphasises. "It is essential that we provide our clients with business clarity and present them a complete picture of consumers and markets in the most efficient manners." Ms Chan says the company has seen significant growth from its global accounts, which tend to find the comprehensive service more convenient and applicable to their business model. "We're now adopting a truly global perspective, so clients have a single point of contact," she adds. "Some of our established retail audit service clients appreciate the value-added services such as advertisement tracking that we can now deliver together. Likewise, our media clients have found information from our consumer and retail measurement instrumental." Value creation The integration into "One Nielsen" also brought the company significant gains in operational efficiency. "We've streamlined and consolidated our back office resources such as human resources, data processing and administration for cost efficiency," Ms Chan says, adding that that particular endeavour demanded substantial energy and effort, particularly on the part of staff who were required to adapt to new roles. "It's also important to keep our staff informed of the changes and why and how the changes will benefit everyone, not only the company," Ms Chan stresses. "Our colleagues must keep an open mind to the shift in responsibilities. The business environment is becoming more complex and we need them to embrace changes. A range of training has been designed to encourage that." The company also keeps open dialogue with employees who encountered changes in their roles or those who required assistance with internal transfer. "We respect our people and are keen to help them achieve their career aspirations and preferences," she adds. "We expect the structural change will bring along business growth and we plan to grow our greater China team and hire 1,000 additional employees over the next three years." While most of the greater China recruitment opportunities will be on the mainland, Ms Chan says internal transfer opportunities are always open to staff in the Hong Kong office. Campus recruitment in both Hong Kong and mainland China will still be looking to groom future market research professionals. She adds, "In essence, candidates should have a genuine interest in interacting with people from all walks of life and the capacity to adapt to change." Then and Now Before Market research conglomerate with independent business units Service portfolio comprised retail audit, consumer research, media measurement and web traffic monitoring Clients required to contact different staff for different business services Different operation and administration staff for independent business units After One-stop integrated business solution provides synergies for clients by gathering the strengths of individual business units Single contact point for clients Employees are both specialists and generalists who are knowledgeable on a diverse range of product offerings Sharing resources for cost effectiveness Taken from Career Times 7 November 2008, p. A11 Your comments are welcome at [email protected]