From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits
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Your company culture
From the course: Cost Reduction Tips - How To Cut Costs And Maximize Profits
Your company culture
- So the companies that I've looked at, quite often, their biggest cost problems come from their culture. So, some companies I've been to have a very fancy head office for example. And, are you wasting too much time on trying to look important or on your head office when really the operating units could do with the money? Another cultural aspect is fear of the unions or a very weak HR department or a useless occupational health department. So the problems with the labor force are not addressed and that could be wasting a lot of money. So that might be worth doing something about. And in some organization, sickness is the norm. Yeah, everybody has 10 days a year. People say, oh, I haven't used up all my sickness yet. They know that if they take more than 10 days they'll be in trouble, so they go right up to the 10. If you only had five sickness days, what are you doing? You could have had five more days. So we sickness the norm and that's a cultural problem that's really expensive. And…
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Contents
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Costs other than people: Introduction18s
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Stock: The hidden curse3m 31s
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Central purchasing department analysis6m 28s
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Are subcontractors a hidden money pit?6m 12s
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What is your optimum quality?10m 13s
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Effectively managing queues4m 37s
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Bottlenecks4m 50s
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Poor utilization of assets2m 51s
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The real cost of bad IT7m 34s
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The small stuff2m 31s
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Get value from marketing4m 39s
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A lack of investment can be costly3m 21s
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Your company culture3m 17s
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Wrap up51s
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