Cutting Costs Without Affecting Customers

The objective is to reduce costs wherever possible, while avoiding giving customers reduced service or product quality.

Wednesday, June 3, 2009

Cuts in spending affect products or services in different ways. Cuts in administration, for example, are not normally noticed by buyers, but staff cuts in areas that are visible such as customer service or the quality of the packaging may adversely affect the customers’ experience.

Companies must analyze what those "moments of truth" in their interaction with customers are in order to avoid today’s cost reductions from causing the customer not to return tomorrow.

More on this topic

"It’s not the Strong but Those Who Adapt to Change Who Survive"

March 2009

Seven strategies that, applying Darwinian maxims, Guatemalan businesses are implementing in order to overcome these times of crisis.

An article by Louisa Reynolds in Elperiodico.com.gt details different strategies that Guatemalan entrepreneurs are carrying out in trying to be more creative in order to take advantage of any new opportunities that may arise.

Companies Hiring Less Staff

August 2009

Human Resources companies report a 50% decrease in middle management hiring.

Eric Quesada Ramírez, Manpower's regional director, said that salaries have also been affected.

"Where companies offered a monthly salary of $1.000 for management services, they are now offering $700", told Quesada to Elsalvador.com. "If the worker wants more than these $700, then the company looks for another candidate".

How to Win During the Crisis

June 2009

Even during a recession, there are many intelligent management strategies that are applicable to improve business competitiveness.

Times of crisis represent an excellent period in which to refocus on what our businesses do best, attract new clients, and build for the future.

Opportunities arise from the crisis

August 2008

Will the economy die? Not necessarily. This is a moment of change, and with change comes new opportunities.

It should be recalled that this is a cycle, the economy will improve in the future, and then fall again.
This is why we have made 10 observations to maintain a realistic, calm and positive outlook:

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