Manage Costs to Advance Strategic Objectives
Controlling costs has become a necessity for every business in these difficult and uncertain times. But taking costs out of an organization carries significant risks as well as opportunities. How companies approach cost reductions now will help determine their financial health and competitive position when the recovery takes hold.
In this paper, Monitor’s Josh Lee and Karin Stawarky discuss how adaptive cost management empowers business leaders … [ Read more ]
Content: Article | Authors: Josh Lee, Karin Stawarky | Source: Monitor Group | Subjects: Finance, Management
A Strategic Approach to Overhead Management
The average company spends 23 cents out of every dollar of revenue on overhead, yet most firms lack a plan or system for managing the spending for greater value. Managerial attention to overhead tends to be sporadic and is often driven by the need to cut costs in the near-term. Even if short-term cost reductions are achieved, companies then find themselves tied to a roller-coaster … [ Read more ]
Content: Article | Authors: Josh Lee, Margaret Covell | Source: Monitor Group | Subject: Management