Think cost-sufficiency, NOT COST-EFFICIENCY
It is fair to say that for as long as even the most experienced among us can remember executives have been, at least in part, focused on reducing cost to drive efficiency.
Executives commonly pressure managers and workers to come up with savings believing there must be fat in the system. The pressure is thought to encourage real and deeper consideration of planned expenditures.
Contractors are forced to sharpen their pencils believing this will result in innovation, benefiting everyone.
Boards across the private and public sector regularly set financial limits, challenging budgets and stretch goals that demand finance managers and CEOs pay attention to how cost-efficient
