How to change the way cost-cutting is done and get swifter results
5 steps to make it work in your organisation
Leaders with a clear vision use cost-cutting and improvement to align costs with business strategy. They know it will help lower costs, focus on the aspects of the business that are controllable and free up resources to fund transformation and future growth.
In this paper, we explain how you can add strategic cost-cutting and improvement to your innovation agenda. We also discuss how an innovation culture is fundamental in implementing your agenda, saving costs and delivering continuous and effective results.
Building on field-tested practices, Exago’s CEO Diana Carvalho and Sales Executive Andreia Dias share a five-step model that includes how to:
- Design a clear direction for your cost strategy
- Distinguish the bad and the good costs, at both micro and macro levels
- Easily uncover bad costs and inefficiencies
- Invest in bottom-up approaches, having your people contributing with ideas
- Be resilient in creating a cost-conscious culture to impact the company positively.
Get the full paper here
Diana Neves de Carvalho
Cost-cutting and improvement are key aspects of each organisation’s Innovation Agenda. This requires an ongoing effort and feedback loops to embed a cost-conscious mindset in the organisation culture. At Exago, we privilege a bottom-up approach, because we know that an engaged internal workforce will likely be more thorough than a dozen experts when addressing micro cost-cutting and improvements strategies.
Andreia Agostinho Dias
Executive leaderships have long understood that cost cuts cannot be blind, but instead need to be aligned with business strategies, and seen as a way to prepare people and processes for present and future growth. Managers must help to build and promote an internal cost-conscious culture, removing all fears typically associated with the use of the word “cut” in corporate environments.