Overheard at a strategy meeting this week:
I think we can improve our company financial situations through the following ways:
- Make money: maximize our pricing, identify our top customers
- Save money: review our labour cost, negotiable with our suppliers, reduce bad debts, restructure financing, reduce work errors, track advertising investments
- Improve the efficiency of processes or procedures
- Improve the quality of our products/services, create more value
- Fix existing problems: do regular variance analyses
- Prevent future problems: prepare reliable budgets, projections and sensitivity analyses
Pretty interesting discussion/meeting…!
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