It’s a near certainty that businesses of any size or scope would seek to reduce costs, if given the chance. And why not? Lowering costs is arguably the most direct way to increase profitability.
If only it were that simple. In reality, many businesses find that reducing costs is actually quite complex, given a host of variables unique to their business. Add to that competing internal priorities, as well as a general fear of cutting too deeply and trimming muscle and bone with the fat. It’s no wonder, then, that businesses find controlling core costs one of their biggest challenges.