Apply Theory ZYX to COST CUTTING when FAILURE IS
NOT AN OPTION. THE BENEFITS OF APPLYING THEORY ZYX ARE:
- Increase productively simultaneously with cost
cutting
- Get buy-in from Key Stakeholders
- Achieve both short term and long term objectives
- Avoid common mistakes
- Set realistic objectives
- Align the organization behind the Cost Reduction
Initiative
- Motivate the organization
- Build a culture to keep cost under control
- Utilize a comprehensive integrated framework
- Effectively communicate the initiative
- Keep the program on track as you go through the
implementation process
- Effectively and efficiently challenge the present
state that may be comfortable but inadequate
- Correctly start the process of Change Management
- Make aberrant behavior stand out
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- Make it easier for everyone to make the right
decisions the very first time
- Fully understand the challenges to your program
- Avoid damaging your core competency
- Avoid damaging your existing customer relations
- Avoid damaging your new revenue generation prospects
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