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With the economy in the doldrums and many companies cautiously approaching the year ahead – cutbacks, layoffs and cost cutting appear to be back on the agenda. But is there a right and a wrong way to make cost savings?
In this Process Perspectives podcast, Brad Power, a consultant and researcher in process innovation, explains why he thinks many companies go about cost cutting in the wrong way, arguing that companies need to start thinking long term about improvements that cut the waste (rather than people's jobs).