Success Tips by Yehia El-Ibiary
This section is dedicated to the people who help others succeed in life
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This is the book I wish I read 40 years ago. I wish you the best.
Yehia El-Ibiary
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The following book has many tips that are essential for success. I strongly recommend it.
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NEW BOOK The Road to Career Success and Happiness
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COST REDUCTION
- Some companies when faced with tough
competition and severe market conditions get on
the cost reduction band wagon. In doing so
management put cost reduction targets for each
department.
- Managers in pursuit of these cost reduction
targets they start substituting components and
services with cheaper and lower quality
components and or offer less services.
- In doing so the company goal of cost reduction
becomes a cost liability because of the increased
incidents of product failures and customer
dissatisfaction. Quality and service should never
be compromised for a short term gain. Companies
may not be able to recover from poor market
perception due to poor quality and services.
- Companies when faced with tough competition
and severe market condition should focus their
efforts on coming up with innovative solutions
that elevate their products above their
competitors. In fact companies should do that at
all times to continue to grow profitably.
- So my advice is do not turn a cost reduction
program into a cost liability program.
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