Organizations are in constant pursuit of increased profitability through cost reduction as this is a vital factor for competitive advantage and strategic positioning in the market. To ensure sustainable development of a business, an effective cost management strategy is required. A good cost management system allows companies to predict expenditures and prevent the risk of going over the budget. The main objective of cost management is to reduce costs while strengthening the strategic positioning of the firm.
strategic change – the catalysts
initiating a strategic cost management programmer – workgroup: plan of action; objectives and scope; initial fact finds; board presentation
strategic information needs
leadership risks and mitigation
suggested framework for initiating a strategic cost management
Big business that went bust
Corporate governance
Structures and processes
Operational cost management techniques
Cost drivers and performance measures
potential weaknesses of cost management techniques
common cost optimization strategies
Methodology overview
Application of the methodology
Mergers and acquisitions
Programmers and projects
Effective leadership
Reluctance to change
Personal interests
Passive and active resistance
Methods of winning support
Control and optimize costs
Lead cost optimization initiatives
Maximize the benefits from mergers and acquisitions
Inspire change within organization.
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