By Andrew Wileman
The 1st obtainable and functional booklet to deal with the subject of fee administration in a normal for the executive at each point and in each functionality. Andrew Wileman offers a toolkit of key principles and techniques for interpreting cost-management. correct to all deepest zone companies and public quarter agencies, riding Down price comprises useful concepts for enforcing expense aid courses. according to over 25 years event, it's full of real-life, foreign case reports.
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Additional resources for Driving Down Costs: How to Manage and Cut Costs - Intelligently
There are clear reasons a frugal role model creates value for a business and there are many successful examples. On the other hand, while it is clearly possible to be an extravagant, high-spending leader and be very successful, that’s a random outcome against the odds, like a monkey writing Shakespeare or which mutual fund does best this year. And there are so many highprofile cases where the cost excesses of bad top management role models have been leading indicators of corporate decline. Jim Collins gives a nice illustration in Good to Great.
They carry on spending 80% of their time on the things that matter least. In their head they are clearing the ground for an attack on the big stuff, but somehow that never happens. To make sure I follow an ABC or 80:20 approach, I put all my possible cost action programs into a simple matrix, illustrated opposite. Across the top of the matrix I estimate the potential cost impact, the expected value of future cost savings over a five- or ten-year 48 DRIVING DOWN COST period, ignoring the practicalities of implementation.
And it’s a reference account that will open up whole new 27 COST LEADERSHIP market segments. And there’s no way you can let the competition get a look in. “But of course, on this deal, right now, our first big sale with them, obviously we have to give it away. ” When sales guys start talking about strategic customers, you should suspect that: ❍ They’ve been wining and dining the account for months and now they need to make a commission. ❍ Or the sales director needs this sale to hit budget for the quarter.