Strategic Cost Reduction Or Cutting Costs Without Killing Your Business

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Strategic Cost Reduction Or Cutting Costs Without Killing Your Business

Author : Tim McCormick
Publisher :
ISBN 13 : 9780903854696
Total Pages : 0 pages
Book Rating : 4.8/5 (546 download)

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Book Synopsis Strategic Cost Reduction Or Cutting Costs Without Killing Your Business by : Tim McCormick

Download or read book Strategic Cost Reduction Or Cutting Costs Without Killing Your Business written by Tim McCormick and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many businesses, Cost Reduction has been a priority for some time. As the Recession deepens and the Credit Crunch bites, however, the urgency has intensified. In a crisis, companies may need to cut many costs to restore their corporate 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 corporate 'death by a thousand cuts'. At other times, cost cutting occurs randomly, meaning that the savings made are only temporary and that the costs re-appear. Cost reduction is often omitted from management books, or is dealt with in a fragmented, incomplete way. Written by a chartered accountant and an engineer, this new book takes a holistic approach to the subject, and is an original practitioners' guide on how to reduce costs in a way which does not ultimately destroy the business. This involves integrating the experience of leading practitioners with the available strategic models and theories.Strategic Cost Reduction is aimed at any person who is in a position to influence the strategy of the business, irrespective of its size, including directors, business unit managers and owner-managers, together with their advisors, such as chartered accountants. While it is written from an Irish perspective, many of the examples given are from multinationals operating in a global context, and so the book has wider relevance. While some success may result from focussing on the more obvious and immediate cost reduction targets, radical cost reduction is unlikely to be achieved by a draconian policy of 'slash and burn.' The ground-breaking strategic perspective described in this book will be far more productive. By careful planning and skilful implementation, it should be possible for companies to avoid the pitfalls and achieve lasting success. Outline of the Book Strategic Cost Reduction is in four parts. Part 1 deals with budgeting and other traditional approaches to cost reduction, including the various functional departments, to assess the effectiveness of existing cost reduction systems.It continues with the measurement of the problem, the setting of cost reduction targets and how to approach an emergency. Part 2 places cost reduction in a wider framework of strategy and values, considering different types of strategies and the critical functional safeguards, which should not be overlooked. It then looks at the wider strategic drivers of cost and approaches the issue by using the value chain, rather than traditional accounting information, which may not identify the root causes of the problem. Finally it delves into the issue of economies and diseconomies of scale. Part 3 outlines the modern operational tools used to analyse and manage costs by world class companies, such as Toyota and Motorola. It discusses 'world class' and 'lean' manufacturing, six sigma and business process reengineering. This is followed by the challenges of benchmarking and outsourcing. It provides a number of case studies and offers practical tips for implementation, as well as outlining the options available. Part 4 deals with issues of implementation and monitoring. It reviews issues around the structuring and rewarding the labour force.It goes on to establish the critical links with the budgeting and costing system, the role and costs of the head office and how quality and values can be monitored through a balanced scorecard. It finishes with a summary of how to plan the journey and get started. Each concise chapter gives numerous examples and illustrations, and each one ends with a checklist of thoughts for the practising manager. The contents of the text are set out below:

Strategic Cost Reduction

Author : Tim McCormick
Publisher :
ISBN 13 : 9781908199348
Total Pages : 308 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis Strategic Cost Reduction by : Tim McCormick

Download or read book Strategic Cost Reduction written by Tim McCormick and published by . This book was released on 2012 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Cut Costs, Grow Stronger : A Strategic Approach to What to Cut and What to Keep

Author : Paul Leinwand
Publisher : Harvard Business Press
ISBN 13 : 1422161803
Total Pages : 64 pages
Book Rating : 4.4/5 (221 download)

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Book Synopsis Cut Costs, Grow Stronger : A Strategic Approach to What to Cut and What to Keep by : Paul Leinwand

Download or read book Cut Costs, Grow Stronger : A Strategic Approach to What to Cut and What to Keep written by Paul Leinwand and published by Harvard Business Press. This book was released on 2009-07-15 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: For most companies, cost cutting in a down economy means across-the-board slashing that "spreads the pain" of budget reductions across many departments. While that may sound like the best approach for getting critical results fast and for limiting political infighting, it is a mistake-one that will leave your company weaker, not just smaller. Instead, companies that need to reduce costs should treat the challenge as an opportunity to identify and reinforce their key capabilities, while divesting from those activities that do not truly reflect the business's strengths or long-term goals. This more strategic approach will make your company more resilient as tough times continue and more robust as recovery begins. In Cut Costs, Grow Stronger, an e-book published as part of the Harvard Business Press Memo to the CEO series, Booz & Company's Shumeet Banerji, Paul Leinwand and Cesare Mainardi provide executives with the tools they need to rapidly implement capabilities-driven cost reduction. First they demonstrate how to identify and clearly articulate your company's key capabilities-not just core competencies or skill sets, but those very few strengths that, in combination, define how your organization competes. You can then use this information to create your company's unique blueprint for effective and efficient cost reduction. The authors' detailed, step-by-step framework walks you through the process, which can be completed in as little as two or three months-it's something that you can do now. This practical guide to capabilities-driven cost-cutting is the tool executives need to confront the challenge of today's economy while strengthening the foundation for what will set their company apart in the future.

Profit Building

Author : Perry Ludy
Publisher : ReadHowYouWant.com
ISBN 13 : 1458795306
Total Pages : 230 pages
Book Rating : 4.4/5 (587 download)

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Book Synopsis Profit Building by : Perry Ludy

Download or read book Profit Building written by Perry Ludy and published by ReadHowYouWant.com. This book was released on 2010-08 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Improving Profit is the number one objective of business leaders, yet most do not truly understand how to move beyond the basics when it comes to cost reduction for profit improvement. Typically, a companys response to reducing cost is to reduce the workforce. People are laid off in large numbers and dollars are saved--or so it seems. This is a mistake, a short-term solution. Profit Building provides a better approach, one that focuses on profit improvement as a stand-alone process, demonstrating how an organization can achieve its goals to improve profitability and reduce cost through a proven method based on team innovation management. Perry J. Ludy offers a hands-on guide that shows managers how to move profit and loss financial reviews beyond the basics to creative solutions and genuine action plans. Using the authors five-step Profit Building Process (PBP), Profit Building shows how to organize teams with the specific purpose of improving profit--while providing an opportunity for employees to participate in developing cost reduction strategies so that profit improvement is perpetual. A system of step-by-step activities designed to produce immediate and continuous results, the PBP shows managers how to apply concepts from prior learning--such as teams, innovation management, and performance improvement planning--to create tailor-made strategies for any organization. And it introduces """"Questions Brainstorming,"""" a new twist to traditional brainstorming that fosters avid group participation resulting in better solutions. In order to achieve success beyond today, business leaders must leverage all resources available within the organization to improve profit, reduce cost, and create a better place to work. Profit Building is an executive handbook and a quick desk reference for managers that shows how to do just that.

Fit for Growth

Author : Vinay Couto
Publisher : John Wiley & Sons
ISBN 13 : 1119268559
Total Pages : 288 pages
Book Rating : 4.1/5 (192 download)

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Book Synopsis Fit for Growth by : Vinay Couto

Download or read book Fit for Growth written by Vinay Couto and published by John Wiley & Sons. This book was released on 2016-11-18 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States

Profit Building

Author : Perry J Ludy
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1605094633
Total Pages : 162 pages
Book Rating : 4.6/5 (5 download)

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Book Synopsis Profit Building by : Perry J Ludy

Download or read book Profit Building written by Perry J Ludy and published by Berrett-Koehler Publishers. This book was released on 2000-01-01 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: IMPROVING PROFIT is the number one objective of business leaders, yet most do not truly understand how to move beyond the basics when it comes to cost reduction for profit improvement. Typically, a company's response to reducing cost is to reduce the workforce. People are laid off in large numbers and dollars are saved-or so it seems. This is a mistake, a short-term solution. Profit Building provides a better approach, one that focuses on profit improvement as a stand-alone process, demonstrating how an organization can achieve its goals to improve profitability and reduce cost through a proven method based on team innovation management. Perry J. Ludy offers a hands-on guide that shows managers how to move profit-and-loss financial reviews beyond the basics to creative solutions and genuine action plans. Using the author's four-step Profit Building Process (PBP), Profit Building shows how to organize teams with the specific purpose of improving profit-while providing an opportunity for employees to participate in developing cost reduction strategies so that profit improvement is perpetual. A system of step-by-step activities designed to produce immediate and continuous results, the PBP shows managers how to apply concepts from prior learning-such as teams, innovation management, and performance improvement planning-to create tailor-made strategies for any organization. And it introduces "Questions Brainstorming," a new twist to traditional brainstorming that fosters avid group participation resulting in better solutions. In order to achieve success beyond today, business leaders must leverage all resources available within the organization to improve profit, reduce cost, and create a better place to work. Profit Building is an executive handbook and a quick desk reference for managers that shows how to do just that.

A Manager's Guide to Creative Cost Cutting

Author : David W. Young
Publisher : McGraw-Hill Companies
ISBN 13 : 9780071396974
Total Pages : 276 pages
Book Rating : 4.3/5 (969 download)

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Book Synopsis A Manager's Guide to Creative Cost Cutting by : David W. Young

Download or read book A Manager's Guide to Creative Cost Cutting written by David W. Young and published by McGraw-Hill Companies. This book was released on 2003 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: A PAPERBACK ORIGINAL Practical, creative strategies and solutions for cutting costswithout cutting people In an age of cutting costsno matter the costthe unspoken contract between employer and employee has never been more tenuous. But while trimming payroll may be the easiest answer, it is often far from the best. A Manager's Guide to Creative Cost Cutting presents specific ways that companies can reduce costs without reducing staff, along with implementation plans and real-world case studies and examples. Concise and compelling, it shows today's leaders how to better leverage resources to control spiraling costs while creating a sounder, more stable work environment. Featuring 101 techniques for executives to reduce expenses and expand profits, without disrupting workers' lives and deep-sixing morale, this unique and easy-to-read guidebook: Shows how to uncover hidden costs and then reduce or eliminate them Helps readers overcome 21 common cost-reduction prohibitors Highlights real-world examples, from Intel's unpaid leave to Goodyear's debt negotiation

How to Cut Costs and Expenses in a Business - Effective Cost Reduction Strategies in a Small Business

Author : Meir Liraz
Publisher : Independently Published
ISBN 13 : 9781090402646
Total Pages : 26 pages
Book Rating : 4.4/5 (26 download)

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Book Synopsis How to Cut Costs and Expenses in a Business - Effective Cost Reduction Strategies in a Small Business by : Meir Liraz

Download or read book How to Cut Costs and Expenses in a Business - Effective Cost Reduction Strategies in a Small Business written by Meir Liraz and published by Independently Published. This book was released on 2019-03-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Increasing profits through cost reduction must be based on the concept of an organized, planned program. Unless adequate records are maintained through a proper accounting system, there can be no basis for ascertaining and analyzing costs. Cost reduction is not simply attempting to slash any and all expenses unmethodically. The owner-manager must understand the nature of expenses and how expenses inter-relate with sales, inventories, cost of goods sold, gross profits, and net profits. My name is Meir Liraz and I'm the author of this book. According to Dun & Bradstreet, 90% of all business failures analyzed can be traced to poor management. This is backed up by my own experience. In my 31 years as a business coach and consultant to businesses, I've seen practically dozens of business owners fail and go under -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work. And that is where this book can help, it will teach you how to avoid the common traps and mistakes and do everything right the first time. Table of Contents: 1. Introduction 2. Paying The Right Price 3. Analyzing Your Expenses 4. Break-Even Analysis 5. Locating Reducible Expenses 6. Taking Action 7. Introduction to Financial Management

Cost Reduction and Control Best Practices

Author : Institute of Management and Administration (IOMA)
Publisher : Wiley
ISBN 13 : 9780471034254
Total Pages : 0 pages
Book Rating : 4.0/5 (342 download)

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Book Synopsis Cost Reduction and Control Best Practices by : Institute of Management and Administration (IOMA)

Download or read book Cost Reduction and Control Best Practices written by Institute of Management and Administration (IOMA) and published by Wiley. This book was released on 2002-02-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The official IOMA source for tips, techniques, strategies, and best practices in corporate cost-cutting This book is an authoritative and comprehensive collection of the best strategies and techniques being used to control costs across virtually every business function. Each chapter focuses on a different department or function and is built around original research, the latest strategies currently being used, and dozens of practical tips and tactics from managers around the country. Case studies and real examples illustrate this expert guide from the only truly definitive source-the Institute of Management and Administration. The book offers specific techniques and proven best practices on cutting costs in the following areas: Human resources Benefits Compensation 401(k) plans HRIS Training and development Accounting Accounts payable Credit and collections Accounting systems Logistics Purchasing Inventory Mail center Export Ideal for managers facing a crunch, financial officers trimming budgets, and small business owners who need fresh ideas for cutting costs, Cost Reduction and Control Best Practices is the ultimate resource for controlling costs simply and effectively.

Cost Reduction and Control Best Practices

Author : Institute of Management and Administration (IOMA)
Publisher : John Wiley & Sons
ISBN 13 : 1118429028
Total Pages : 461 pages
Book Rating : 4.1/5 (184 download)

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Book Synopsis Cost Reduction and Control Best Practices by : Institute of Management and Administration (IOMA)

Download or read book Cost Reduction and Control Best Practices written by Institute of Management and Administration (IOMA) and published by John Wiley & Sons. This book was released on 2012-07-03 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost Reduction and Control Best Practices provides financial manages with no-nonsense, balanced, and practical strategies that are being targeted and used nationwide for controlling costs by thousands of companies in areas such as human resources, compensation, benefits, purchasing, outsourcing, use of consultants, taxes, and exports. These best practices are based on the trenches experience, research, proprietary databases, and consultants from the Institute of Management and Administration (IOMA) and other leading experts in their fields. * Provides best practices and techniques for controlling costs within a company * New chapters focus on outsourcing costs, downsizing, consultants' costs, and business tax costs * Provides the latest strategies companies re using to control costs

Cost Half

Author : Toshio Suzue
Publisher : CRC Press
ISBN 13 : 9781563272493
Total Pages : 176 pages
Book Rating : 4.2/5 (724 download)

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Book Synopsis Cost Half by : Toshio Suzue

Download or read book Cost Half written by Toshio Suzue and published by CRC Press. This book was released on 2002-07-10 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: Maximize Your Profits with Innovative Cost Reduction Techniques! The Cost Half approach does not rely on gradual improvement activities. Rather, it is a radical, "greedy" approach that focuses on developing three interrelated strengths to ensure stable business results. That is, Cost Half puts you on the road to increasing market development strength, improving competitive quality, and maintaining competitive cost. The techniques in Cost Half: The Method for Radical Cost Reduction are designed to help meet target costs and create a sustainable cost management system for strong business capability. Highlights Include: Identification of the telltale signs of a company in need of a Cost Half program Practical techniques for changing cost-generating sources and locations Step by step guide for the implementation of Cost Half in your company Cost Half benchmarking activities A case study demonstrating a successful Cost Half project

Driving Down Cost

Author : Andrew Wileman
Publisher : Hachette UK
ISBN 13 : 1857884523
Total Pages : 258 pages
Book Rating : 4.8/5 (578 download)

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Book Synopsis Driving Down Cost by : Andrew Wileman

Download or read book Driving Down Cost written by Andrew Wileman and published by Hachette UK. This book was released on 2011-01-11 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to manage budgets and trim costs intelligently.

Cost Reduction

Author : Jack Greene
Publisher : CreateSpace
ISBN 13 : 9781492261100
Total Pages : 90 pages
Book Rating : 4.2/5 (611 download)

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Book Synopsis Cost Reduction by : Jack Greene

Download or read book Cost Reduction written by Jack Greene and published by CreateSpace. This book was released on 2013-09 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the Kindle Store version, please refer to http: //www.amazon.com/Cost-Reduction-ebook/dp/B00FAASREG/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1379779971&sr=1-1&keywords=Cost+Reduction The immediate needs for your organization will depend on the general economy, the particular sector of the economy you participate in, and unique characteristics of the organization. You may need to survive, or to recover, or to thrive at different times of your existence. This book offers hands-on options for all economic phases, for all levels of the organization chart. Ideas for cost reduction and for good management are mixed interchangeably, just as in real life. Cost reduction and control are reliable strategies in any business phase, with benefit likely to be much higher than the cost. Many of us have been told at one time or another, find ways to cut cost. An "or else" relating to survival may have been spoken or implied. An evil economy may have conveyed the same message to the organization and its executives. Chapters in this book include: Cost reduction, the basics Cost reduction management Accounting aspects; keeping the books Keep it simple, sir or sweetheart Cherry pick at the management level; examples Beyond cherry picking: examples Five very effective tools which lead to cost reduction Do your internal operating practices interfere? Value added Motivation Twice as smart Operating practice for labor operations Operating practice for materials Operating practice for overhead Risk management Made in (the name of your country here) To achieve cost reduction in a booming economy or slowdown, how to proceed? one time or continuous, big project or little idea? top down or bottom up? Yes. Who can use this book, executive or manager? engineer or accountant or scientist or line supervisor or scheduler or buyer or maintenance head? Yes. Good cost reduction practice is not standardized; there is no established check list to perform for economic health or promise that if you perform steps 1, 2, 3 and 4 you will survive, or recover, or thrive. You'll have to pick and choose what makes sense for your organization, objectives and time table. This book is full of ideas for all of you who will reduce costs. Some sections will exactly fit the challenge you face, others will offer an adaptable idea or spark a new thought process. Some will tell you something you didn't know and open a new door.

Cut Costs Not Corners

Author : Colin Barrow
Publisher : Kogan Page Publishers
ISBN 13 : 0749459778
Total Pages : 184 pages
Book Rating : 4.7/5 (494 download)

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Book Synopsis Cut Costs Not Corners by : Colin Barrow

Download or read book Cut Costs Not Corners written by Colin Barrow and published by Kogan Page Publishers. This book was released on 2010-05-03 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost cutting is an issue for every manager and executive at every level in every company, large or small, public or private sector. Junior managers who are proactively tight on cost are learning good habits for the future, ones that will bring them recognition and advance their climb up the organizational chart. The HR department is now staffed with tough cost managers dealing with the most difficult cost category, people. Marketing departments now focus on how to get higher returns from less spend. Cut Costs Not Corners has a coherent and structured approach to cost cutting as a permanent activity, combined with guidance on the practical steps to take and powerful international case studies. It covers strategic and tactical cost cutting options such as analysing space needs, buying technology for less, selling off redundant assets, reducing credit risk, reviewing distribution methods, sourcing new suppliers or consolidating existing ones, advertising for less, changing the route to market, travel and utility savings, minimising finance and tax costs, crisis measures - freezing recruitment, delaying pay rises, sell and lease back assets - keeping budgets rolling and using a daily cash flow model.

2,001 Innovative Ways to Save Your Company Thousands and Reduce Costs

Author : Cheryl L. Russell
Publisher : Atlantic Publishing Company
ISBN 13 : 0910627770
Total Pages : 354 pages
Book Rating : 4.9/5 (16 download)

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Book Synopsis 2,001 Innovative Ways to Save Your Company Thousands and Reduce Costs by : Cheryl L. Russell

Download or read book 2,001 Innovative Ways to Save Your Company Thousands and Reduce Costs written by Cheryl L. Russell and published by Atlantic Publishing Company. This book was released on 2007 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the small business owner, every dollar you can save by reducing costs goes directly to the bottom line in increased profits. This book details over 2,000 specific ways that your company can reduce costs. It includes practical advice on many innovative ways to cut costs in almost every area of your business.

Cutting Costs

Author : Fred H. Neu
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1440829241
Total Pages : 252 pages
Book Rating : 4.4/5 (48 download)

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Book Synopsis Cutting Costs by : Fred H. Neu

Download or read book Cutting Costs written by Fred H. Neu and published by Bloomsbury Publishing USA. This book was released on 2013-02-20 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing a topic of critical importance to every business, this book provides managers at all levels the tools to conduct a successful cost-cutting and productivity-improvement program. Cost cutting and improving productivity are objectives that have always been—and continue to be—critically important to businesses. Today, being efficient isn't simply "best practice;" it's essential to preventing layoffs and facility closures. In Cutting Costs: Successful Strategies for Improving Productivity, a certified management consultant with nearly four decades of experience presents his highly relevant and extensive knowledge to help businesses make significant improvements and be more successful. Providing a practical progression of information that is simple to understand and easy to put to use and benefit from, Fred H. Neu's advice and insights will be invaluable to all business owners, managers with budget responsibility, business finance and accounting professionals, management consultants, business school instructors, and business school students.

The Money Machine

Author :
Publisher : Lulu.com
ISBN 13 : 0978769007
Total Pages : 107 pages
Book Rating : 4.9/5 (787 download)

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Book Synopsis The Money Machine by :

Download or read book The Money Machine written by and published by Lulu.com. This book was released on 2006-06 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: You don't need to have an MBA to improve your company's bottom line. This is a no nonsense pocket guide filled with proven methods that will make your company more profitable. Most can be implemented with little or no investment, and can be applied to virtually any size business, in any industry. If a 25% cost reduction, and a 200% increase in profitability sounds like what you need, then this pocket guide will be the best money you have ever invested. Each strategy is outlined for quick reference and easy application. Included is an easy to understand explanation, along with supporting information that will help you explain, evaluate and implement each approach in your own company.