35. (Cost management system benefits) Consider the following excerpt regarding advertising agencies:

The latest study on advertising agency performance from the Incorporated Society of British Advertisers found that agencies are failing to provide adequate service, to develop trusting relationships, be innovative, be efficient, control costs, and keep their promises. Agency staff are difficult to reach, planners are lack-ing when it comes to monitoring and evaluating advertising, creatives still do not listen to advertisers’ concerns or understand their target markets, and production departments fail to deliver value for money or meet budgets. On a grander scale, the majority of advertisers do not feel that their agencies provide competent advice on business and marketing issues.

SOURCE: Ruth Nicholas, “Survey Finds Ad Agency Still Failing Clients.” From an original article in the 3 June 1999 issue of Marketing with the permission of Haymarket Business Publications Ltd.

Given the problems plaguing advertising agencies, discuss how an integrated cost management system could help individual ad agencies become more competitive.