After years of increased spending in response to major and sometimes unprecedented global events, the pendulum of business is swinging back to cost cautiousness and efficiency.
Don’t Wait for a Crisis to Reduce Costs
Leaders who respond decisively to cost creep can use freed-up resources to invest in strategic priorities and growth.
March 22, 2024
Summary.
Leaders who take a hard, holistic look across their cost base will find opportunities to reposition their companies for future growth. But they must act boldly and decisively to achieve a competitive cost position. In this article, the authors discuss five critical actions that CEOs and other executives can take to tackle cost challenges. Collectively, these measures help organizations sustain efficiency and redirect resources to invest in innovation, promote growth, and capture value.
New!
HBR Learning
Sharpening Your Business Acumen Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Sharpening Your Business Acumen. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Take your career to the next level by learning business and finance basics, and developing an enterprise mindset.
Learn More & See All Courses
New!
HBR Learning
Sharpening Your Business Acumen Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Sharpening Your Business Acumen. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Take your career to the next level by learning business and finance basics, and developing an enterprise mindset.