If a business is not strategic about implementing cost reduction measures, and recklessly downsizes its product offerings or processes, it could damage relationships with clients, reduce productivity and drive down revenue. Most businesses can, however, improve profit margins without having an adverse effect on the business, through focusing on operating efficiency, reducing unused capacity and getting rid of services that customers don’t value. Read more in the following article: http://www.smartcompany.com.au/sponsored/48268-maximising-profits-without-the-slash-and-burn-approach.html
This article was suggested by our mentor Stephen Lovegrove