Reducing Costs Vs Cost Cutting
Real benefits come when managers begin to understand the profound difference between “cost cutting” and “eliminating the causes of costs.” Brian Joiner in Fourth Generation Management Most leaders don’t understand this difference. In the quest for quick results, they often opt for the latter when it is infinitely better and more efficient to opt for the earlier. Reducing cost is all about Finding activities that don’t add value and removing them (waste) or automate and delegate processes so that we increase our efficiencies. Being intentional and engaging with everyone around to either add more value or reduce waste and mostly do […]