Kyle Hawke, Matt Jochim, Carey Mignerey, Allison Watson
Standard cost-cutting programs typically start with a directive to reduce the previous year’s spending levels. As a result, executives naturally focus on the largest expense categories—the tallest trees in the forest. Xero-based budgeting (ZBB) instead asks everyone to rebuild their budgets from the bottom up, with no carryover from the preceding year. This process identifies many small pockets of waste that add up to big … [ Read more ]
Content: Quotation | Authors: Allison Watson, Carey Mignerey, Kyle Hawke, Matt Jochim | Source: McKinsey Quarterly | Subjects: Finance, Management
Can You Achieve and Sustain G&A Cost Reductions?
Yes, but not by playing it safe. Set big goals, insist on a cultural shift, and model from the top.
Content: Article | Authors: Alexander Edlich, Allison Watson, Heiko Heimes | Source: McKinsey Quarterly | Subject: Management