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employee engagement, lower costs, all absolutely aligned.
Translation - Chinese 00:00:02.700 --> 00:00:06.010
So, for me expense efficiency means being cost fit
那么，我认为费用效率指花合理的成本
00:00:06.170 --> 00:00:09.550如果
to be competitive. And if we, look at the facts
去获取竞争力。如果我们回首过去就会发现
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over the last few years, our core earnings growth has been strong
过去几年里，我们的核心盈利在强劲增长
00:00:13.400 --> 00:00:16.630
but our cost rate of growth
但是我们成本的增长速率
00:00:16.630 --> 00:00:19.960
has been consistent with our core earnings growth. So, we haven't really been
与我们的核心盈利在同步增长。因此说我们其实
00:00:20.250 --> 00:00:23.350
generating the scale efficiencies that we should have been generating.
并未创造出期望的规模效率。
00:00:23.750 --> 00:00:26.220
But, also thinking about it from
但是，也从投资能力的角度
00:00:26.870 --> 00:00:29.860
an ability to invest perspective so that the more
来思考，我们能摈弃
00:00:30.120 --> 00:00:33.630
inefficiency we can drive out of our system means that we can
系统中越多的低效率，就能创造越多的盈利
00:00:33.630 --> 00:00:37.480
create dollars to invest in the execution of our strategy.
来投资策略的执行。
00:00:38.460 --> 00:00:42.470
We set ourselves a target of 50% expense efficiency
我们给自己设立一个50%的费用效率
00:00:42.470 --> 00:00:45.950
and we're currently, if we look at 2017 at
这是现在的目标，到了2017年这个目标就是
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55%, and what that means is that if we look
55%，这说明如果我们
00:00:49.250 --> 00:00:53.100
at the cost base of the organization as a proportion of the revenue
将组织的成本基数算入收益基数的比例
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base means that we want to get to a scenario by
意味着我们要设想
00:00:56.320 --> 00:00:59.930
2022 that for every dollar of cost we
到了2022年我们投入的每美金成本
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invest we're able to generate two dollars of revenue.
可以产生两美金的收益。
00:01:03.900 --> 00:01:07.290
And that's roughly equivalent to taking
这大致相当于
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a billion dollars of costs out of the system by
从系统中支出10亿美金的成本到了
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2022 but that's net of reinvesting incremental
2022年就是净投资增量
00:01:14.700 --> 00:01:17.720
one billion dollars in the execution of strategic
从现在到2022年未来这几年
00:01:17.720 --> 00:01:21.570
initiatives over the next few years between now and 2022.
战略计划执行创造了10亿美元收益。
00:01:22.120 --> 00:01:25.860
So, building cost consciousness into our DNA really means
所以，在我们的DNA中植入成本意识，
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to me that we all operate every single day with
于我而言就是要牢记要高效率
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efficiency in mind and there are direct things
完成每一天的事情，能够做到这样
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that we can do to achieve that for example:
最直接的事情比如：
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questioning whether we need to incur an expense,
询问自己是否需要产生费用
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questioning whether we’re being charged the right rate for a
询问我们为自己享受服务的付费
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service that we’re being provided, questioning whether we need to travel business
是否超出所值，询问我们是不是需要
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class or economy class, whether we need to roam on mobile
乘坐商务舱或者经济舱去旅行，
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phones or can we use Wi-Fi for example.
是否必须手机漫游或者可以使用Wi-fi。
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So those direct questions, those direct actions, that we can take
这些是最直接的问题，我们可以采取的最直接的行动
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but it also means that having this DNA of
把成本意识的基因植入文化中
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cost consciousness in our culture means that indirectly
也会间接地帮助
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we can help lower the cost base. So, where we see inefficient
我们降低成本基数。所以，当我们看见了低效率的
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processes we try and cut that out, where we see
计划我们会尝试减省掉，当我们看见了
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the organization going around in circles making decisions or
组织决策不定
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not being able to make decisions we step in and drive
或者无法决策时我们可以果断地介入
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to a decision. Be proactive
推动决议。
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in driving to decisions so I think there's an awful
推动决策要具有前瞻性我认为还要做
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lot we can do to directly reduce costs
大量的工作来直接减少成本
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but also, indirectly influence the cost space.
同时间接影响成本空间。
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I think we just have to keep cost efficiency at the front of our minds
我认为我们要牢记成本效率，
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and that's absolutely correlated with the concept of providing exceptional
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customer service. Customers don't like slow manual processes.
这与提供出色的客户服务的概念是相互联系的。客户不喜欢迟缓的人工流程。
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Digitized efficient processes are consistent with
数字化的高效流程符合
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high customer satisfaction but also lower costs. And if
高客户满意度还能降低成本。如果
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we think about the impact of really thinking efficiency on our employees
我们考虑人工实际思考效率的影响，
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it's no fun to be involved in manual processes.
人工流程一点都不有趣。
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And so, by taking some of those manual processes away and digitizing
所以，删减掉其中一些人工流程
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the way we do things, we do lower the cost, but we also improve
采取数字化工作方式，我们不仅减少了成本而且
Expertise