Leaders who react decisively to cost creep can utilize freed-up resources to purchase tactical concerns and development.
March 22, 2024
Juan Moyano/Stocksy
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Leaders who take a hard, holistic appearance throughout their expense base will discover chances to rearrange their business for future development. They should act boldly and decisively to attain a competitive expense position. In this short article, the authors go over 5 crucial actions that CEOs and other executives can require to deal with expense obstacles. Jointly, these procedures assist companies sustain performance and reroute resources to purchase development, promote development, and capture worth.
After years of increased costs in action to significant and often unmatched international occasions, the pendulum of organization is swinging back to cost cautiousness and performance.
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Paul Goydan is a handling director and senior partner and the worldwide leader for Accelerated Cost Advantage at BCG.
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Kevin Kelley is a handling director and senior partner and the international leader for People and Organization Efficiency and Effectiveness at BCG.
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New!
HBR Learning
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Accelerate your profession with Harvard ManageMentor ®. HBR Learning’s online management training assists you refine your abilities with courses like Sharpening Your Business Acumen. Make badges to share on LinkedIn and your resume. Gain access to more than 40 courses relied on by Fortune 500 business.
Take your profession to the next level by discovering company and financing fundamentals, and establishing a business state of mind.