How to Cut Company Expenses over the Long Term
Companies that have had a major decline in business need to have solutions for reducing expenses that will continue to be effective over the long term.
When a business finds itself in financial difficulty, it has two options to turn around the situation, either grow revenues or reduce expenses.
Revenue growth is often outside the control of management, and the decision to spend money can be made internally.
Short term measures can work during a crisis, but if a company is losing market share permanently, if there is a prolonged recession, or if the industry is in decline, effective long term solutions are required. Keep Reading