INTHEBLACK July 2021 - Flipbook - Page 28
F E AT U R E
// C O S T M A N A G E M E N T
AT A
GLANCE
In challenging times,
cost-cutting is a
common, knee-jerk
reaction to deal with
difficulty and keep a
business afloat.
There is no catch-all
approach to smart cost
reduction, but experts
advise that the cuts that
present the lowest longterm risk are to
discretionary spending.
In terms of more
significant cost cuts, it is
important that all
decisions be backed by a
comprehensive analysis
of the organisation’s
financial performance
and strategy.
SMART
CUTS
