Description
In the teeth of global recession, reducing costs is vital for survival. In a crisis, cost reduction is a priority, and businesses may need to cut many costs to restore their health. Unfortunately, cost cutting is sometimes undertaken carelessly, and may cut a corporate artery, or is performed so persistently that it can lead to a ‘death by a thousand cuts’ and closure. Strategic Cost Reduction takes a holistic approach to cost reduction, placing it in a wider strategic framework. Based on the experience of leading practitioners, it outlines the key tools available for, and potential pitfalls in, implementing sustainable change. It is aimed at managers, and their advisors, embarking on major cost reduction programmes. While written from an Irish base, where cost competitiveness poses particularly severe challenges for both business and Government, its messages are global. The first edition of the book received widespread critical acclaim for its practical approach and clarity of vision. For example: “This is an excellent practical guide on a vital topic confronting most businesses.” Dr Philip Nolan, Chairman, John Laing plc “Cost reduction is part and parcel of how modern companies operate. This book gives not only good advice, but also the necessary context. A very useful read.” Frank O’Regan, Global Vice-President, Bausch and Lomb This second enlarged edition expands on the material included in the first edition with a greater international focus. In particular, it emphasises implementation issues and includes many more examples, including two new chapters dealing with the causes of business failure and implementing the cost-reduction plan with illustrations from financial services and the public sector.
