Now consolidating results

Posted by / 13-Oct-2017 11:27

Now consolidating results

You’ve been ordered to reduce your department’s costs by 10%, 20%, or 30%. First, don’t expect to reach your target with a single big idea. Second, match the kinds of opportunities you examine and implement to the degree of cost reduction required.To get to 10%, go with incremental ideas that do not significantly disrupt your organization’s or department’s interactions with others.

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You’ve been a good manager of a large department for some time now. No matter what the reason, though, an important question hangs over every cost-cutting effort: “Are we cutting enough—or too much? Overhead should be incurred for only three purposes—to enable your direct activities, increase their effectiveness, or lay the groundwork for growth.

” Expressed more fundamentally: “What’s the right level of overhead? And each kind of overhead should be held to a different standard. When it comes to overhead that enables your direct activities—expenses associated with being a public company, basic payroll functions, financial control, and so on—you should determine how much cost your product must bear as a result of those activities (two dollars per pizza, or 40% of net sales, or 110% of direct product costs).

To cut 30% or more, pursue cross-department and program-elimination ideas.

But remember that they have the greatest potential to be organizationally disruptive. But now an order has come down (from high enough above that you don’t have the liberty of debating its wisdom or feasibility) decreeing that you must find an additional 10%, 20%, or even 30% in administrative cost reductions, severance aside. Companies undertake administrative cost reductions for a number of reasons—to protect earnings, to gain synergies from an acquisition, to stave off bankruptcy.

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In part, they place a share of the blame to consolidation among providers and insurers. In the following years, hospitals have been steadily biting the dust with 5,627 standing in 2016.

One thought on “now consolidating results”

  1. And maybe that can help explain one brow-raising headline making its way around the Internet these days. And if you think things get easier as you get older, think again.