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Cost Cutting That Makes You Stronger

Plasticbionic

Summary.   

In times of economic uncertainty, many leaders turn to an old standby: cost cutting. When so much in the world feels beyond our control, costs are, to a large extent, controllable. But cutting costs with the singular goal of realizing short-term savings is myopic. Whether they’re faced with an urgent need or not, leaders should view each expense line as a precious investment in the business—and recognize how the decision to increase, decrease, or maintain it will shape the company’s future.

Read more on Finance and investing or related topic Automation
A version of this article appeared in the July–August 2023 issue of Harvard Business Review.

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