In today’s distressed economy, every firm is, perforce, a cost cutter. Your company can achieve lean operations by not overpaying for supplies, lessening employee overtime and getting full value from all expenditures. But beware: Severe downsizing can be hugely counterproductive and might cause serious harm to your business while trashing its competitive position. Business professor Colin Barrow reveals the most effective ways to cut costs and outlines proven practices, tips and techniques to reduce expenditures in every area of your organization. His numerous real-life case studies underscore the imperative of making cost cutting a consistent concern. getAbstract recommends Barrow’s helpful, albeit basic, primer to first-time entrepreneurs and small-business owners who need a lucid, straightforward guide to tackling costs.
In this summary, you will learn
- Which cost-cutting methods are merely myths,
- What the best ways are to reduce business costs and
- How you can slash expenses during times of crisis.
About the Author
Colin Barrow is a visiting professor at numerous business schools. He is the author of The Thirty-Day MBA and The Business Plan Workbook.