Eczacıbaşı Holding Chairperson Bülent Eczacıbaşı said the company will continue its investments, including purchase opportunities, and will maintain its cost and efficiency-oriented management style launched in previous years.
“As part of this strategy, we have completed our zero-based budgeting project in our main organizations and we will start its implementation in 2021,” Eczacıbaşı said in an interview with InBusiness magazine.
Zero-based budgeting is a technique that requires putting together a new budget plan from scratch every year, unlike the traditional methods used by most other companies. Its implementation is very difficult and requires qualified human resources and managers to take on more responsibility. In zero-based budgeting, each project is assessed and justified every year and certain decisions are made by unit managers instead of by top management.
The businessperson said that Eczacıbaşı Holding took measures against the possible consequences of the coronavirus outbreak.
“During the second half of year, we compensated the losses we had in the first half with the opening of the markets. We successfully completed the year in general terms in line with our goals. Regardless of economic conditions, we believe that there are always new opportunities for growth and new investments,” Eczacıbaşı said.
He added that Eczacıbaşı Holding also focused on digital transformation to increase turnover growth. “Consumer behavior will determine the economic dynamics after the COVID-19 outbreak. So we aim to increase the share of our products in the market that meet the health and hygiene needs of our customer portfolio,” he said.
