Cost-cutting tools

Tools which helps top management in reducing the cost of running operations of company with minimal or no negative impact on brand image, product quality and employee motivation. Three top cost-cutting tools used by the top management are.

  • Downsizing – in simple words reducing costs by reducing personal and business structures;
  • Outsourcing – refers to contracting third-party contractor.
  • Business Process Reengineering (the most popular in Latin America)