From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

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Effective uses of management time

Effective uses of management time

From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits

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Effective uses of management time

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- The next cost waster that's to do with people is management time. And managers have a lot more discretion about how they use their time, and therefore they can waste their time more effectively than anyone else. And in effect it's not just them, but it affects everyone else because management's important and everything they do affects other people. So, for example, politics. You can lose so much management time playing games between departments and having endless meetings. I'll give you an example. I used to lecture on an MBA program at a local university, and there was endless politics between departments. It's probably not like this now, but back then we were at the business school and we used to get lecturers in from the IT department and the finance and the legal department. And the people who taught on the law degree didn't like the business school. We were sort of bitter rivals for some reason, I don't know why. And so we would say could we have somebody to talk about legal…

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