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Overview : |
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There is no time like a global economic slowdown to test the true capability of a senior
management team. When times are good, it doesn't take much for the senior team to ride the
wave and steer the company to some reasonable level of success. But in an uncertain economy,
many senior teams panic. In the name of cost reduction, the 'C' office may begin a downward
spiral where hatchets begin cutting into bone or muscle instead of simply trimming the fat.
Excessive or poorly targeted cost cutting can lead quickly to poor morale, a mass exodus of the
better resources, tightening of credit, and even reduction or elimination of key customer accounts. |
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