titles-back3.gif (175 bytes)         
  Chairman's Speech

  Message from the Chief Executive Officer

  Board & Management

  Milestones 2005 & Statistics

  Corporate Governance

  Corporate Social Responsibility

 

Management


  Products & Services to Customers

  Subsidiary Companies

 

Network


  Financial Report

  Auditor's Report & Financial Statements

 
 
 
:: ANNUAL REPORT 2005  
 
 

MESSAGE FROM THE CHIEF EXECUTIVE OFFICER

We are the consumer!

With every year that passes, the corporate accounts and planning of modern enterprises are judged more on the degree to which they are relevant to the lives of consumers than on the achievement of short-term business aims.  

Today, people and their ideas are shown to be the main ingredient in the process of value production. Consumers have a broader range of knowledge and choices but, at the same time, limited time and greater responsibilities in an especially multi-faceted social environment.

For a leading organisation, being able to fulfil the dynamic needs of today’s consumers is not merely a competitive advantage but a vivid confirmation of its relevance to their important concerns.

CYTA is an organisation that takes an interest, makes a contribution and shows awareness.

Uncertainty and Freedom
Human consciousness has come full circle. Its long journey of conquest has brought it face to face with the somewhat contradictory conclusion of our wise forebear:
"One thing only I know, and that is that I know nothing"!

Access to oceans of information. The dissolution of conventional borders. Greater speed of movement but of life too. The intensification of competition inside and outside the country, inside and outside the home. Satiated senses and a hungry spirit. The betrayal of confidence in companies and institutions. Life in a society of abundance but a rarity of institutional communities.

What has all this given us of substance?
A burning desire for freedom of choice but also the deep, painful certainty that uncertainty is one’s only firm companion in life.

CYTA continues to be the leading byword for Cypriot consumers looking for advanced and, at the same time, reliable solutions. In conditions of intense competition, market research shows that CYTA inspires the greatest certainty in a dynamically changing world.

CYTA’s strategic aim is to contribute to consumers’ needs for free access to information, in whatever electronic form it is available. Moreover, CYTA supports consumers in managing their uncertainty by developing total solutions for their interaction with the world.

Unity and Movement
Mathematics or Chemistry. Biology or Information Technology. Genetics or Engineering. Philosophy or Technology. Voice or Data. Nature or Man. Private or Professional life. Male or Female professions. Here or there.

It was not so long ago that we comprehended our world as a collection of water-tight compartments. Now, more than at any other time, in all areas of human activity, the curtains of artificial partition are being pulled down.

The convergence of mobile and fixed telephony, then, contributes to its own extent to our awareness of unity and offers an opportunity for the dynamic, simplified but total exploitation of knowledge and skills anywhere.

During 2005, in the context of its Integrated Electronic Communications strategy, CYTA proceeded to design the architecture of its New Generation Network (NGN). 

With the NGN, our Organisation is moving decisively from its existing heterogeneous networks to a unified product provision platform which will offer a high level of availability and easy management.

The NGN is the basic infrastructure that will turn CYTA into a TIMES (Telecommunications-Information-Multimedia-Entertainment-Security) provider, offering our customers new innovative services combining mobile and fixed telephony and triple play (voice-data-video) services  which, together with the converged fixed-mobile service will create a so-called quadruple play system. 

Individuality and Simplicity
CYTA is not a customer-
oriented organisation! Customer focus treats the consumer as an outsider, and it does not give due respect to the pillars of our success: our superb staff.

Our thinking about the consumer surpasses advanced market research tools and demands effectiveness through its simplicity. We are the consumer.

The consumer demands simplicity. Every day he is exposed to thousands of stimuli and inundated by an enormous mass of information and is asked to manage all this cleverly so as to make the correct choices.

The consumer demands recognition. At the same time that he wishes to belong to relevant communities, he also claims the right to express his own opinion and personality.

We already live in the era of mass individualisation of offers and the quest for simplicity. CYTA responds by recognising the particular circumstances of each consumer and providing solutions that respond to the shape of his life.

The Organisation’s new strategy, which is being implemented speedily, sees the consumer and recognises in him an individual and a business demanding effectiveness and simplicity. It is precisely this view that differentiates our positioning in the market from being a telecommunications organisation to being a provider of integrated electronic communications services.

This strategy entails turning CYTA into a new organic structure which will abandon the vertical division of its separate strategic business units and adopt their horizontal unification in three new basic units focused on production, i.e. network, services and customers respectively.

In the new organic structure, the sales of the Organisation have as the focus of their mission the customer as a separate entity, whether an individual or an enterprise. We aim to satisfy the customer’s particular needs through the provision of added value but, also, simplicity. For this reason, we must be ahead of our time.

We do not want to be "customer-friendly". We want to be genuinely intimate with the customer. His problem is our problem and his complaint is our chance to improve our relationship with him even more.

Leadership and Teamwork
Leadership is not a result. It is a way of life. You are not shown to be a leader on one occasion, you are shown to be a leader on every occasion. A leader creates value out of love, not obligation.

Long before the liberalisation of telecommunications, CYTA was never content with the ‘security’ of its monopoly. On the contrary, it kept Cyprus and its people up-to-date with developments in the most advanced technology.

CYTA’s spirit is a restless one. CYTA is always looking for the next clever idea, the next best practice. This is why CYTA is an organisation of constant learning, one that rewards innovation.

If CYTA continues to play a leading role, it is because all those who work for it function every day like leaders. We codify and systemise this behaviour so that every experience confirms the promises we make to our customers.  Leadership culture is built from the inside. This is why 2005 marks the completion of our strategic branding study and 2006 the start of its implementation.

Thus our every contact will not only maintain but will reinforce the "value circle" in which CYTA plays a leading role. Staff - customer - owner - the people jointly benefit from the added value that each adds to this productivity chain.

CYTA welcomes competition as a component of progress but it is not willing to give discounts on its long, honest relationship with the Cypriot consumer.  Customers are not transferred. They are won! With small or large offers of genuine value.


Nicos M Timotheou
Chief Executive Officer

July 2006

^ top