I think, this will become one of most reading article, yes it’s an important informative piece of writing. We want to achieve more profit with less budget but I don’t call it like that, I name it wise spending. Even the smallest business in the world undergo a number of tasks to achieve its target at the end and produce what it was aiming for, looking closely into the process we start to understand the priorities, importance, criticality and the interconnection with other tasks, then we ask ourselves the big question, do we need that?
There will be always a room for improvement, cost is one of them beside quality and efficiency. A crisis has been always there to warn us about our assets and how to utilize them the best, so you are not alone, every business seeks cost reduction but also wants to maintain quality, agility and efficiency. Researchers has come with a number of techniques to achieve that, from new way of project management to technology business management to Lean management which has been practically approved globally that it really worked well and kept more room for improvement too.
This is not a radical change nor a single idea or solving an issue in one go because if such an idea existed, it would most likely entail so much risk that the organization would never be willing to implement it, Instead, you should plan to reach your goal with a combination of 10 or more actions.
In our business we aim to avoid organizational disruption caused by the reduction initiatives so we tailor the reduction we pursue to our saving goal. We need to use Incremental ideas with minimal impact to trim a decent percentage in every wave. Different techniques are required such as eliminating the lowest value activities, removing wastes and redesigning the service catalogue or creating one if it doesn’t exist, these ideas are usually necessary when we are aiming to be fit in business shape, to do more with less and avoid organization disruption