Key strategies for Promoting a Cost-Conscious Culture
▪ Leadership Commitment: Ensure senior leadership visibly support cost initiatives and are modelling cost-conscious behaviours ▪ Employee Engagement: Launch programmes that foster innovation. Track performance and link savings achievements with business outcomes ▪ Transparent Communication: Clearly communicate cost-saving goals and progress regularly. Ensure objectives align with strategy ▪ Zero Based Budgeting: Adapt zero-based budgeting to ensure every expense is justified for each new period ▪ Value Creation: Create a central initiative that guides re-investment in line with goals ensuring savings are reinvested to drive growth.
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