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Are You Penny Wise and Pound Foolish?

Posted June 27, 2011 2:50 PM

When austerity hits your company, how do you and your colleagues react? Many companies establish elaborate procedures designed to "save money" — except that they tend to make the business less agile and increase rather than decrease costs. Are you evaluated on the economic performance of your own group or how your contribution affects the overall company bottom line? Do you subscribe to the "Sometimes you have to spend 10 cents to save 25 cents" school of thought? Is your company's management open to out-of-the-box ways to save that might never have been tried? How would you change the dynamic?

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Guru

Join Date: Oct 2008
Location: Deepest Darkest Rutherford Oz
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#1

Re: Are You Penny Wise and Pound Foolish?

06/27/2011 11:37 PM

The obvious signs of austerity measures being enacted in a company are usually the "comfort " items are downgraded or removed altogether.

Where once there were creme filled biscuits and "nice" brand named coffee, now its paper cups with shared tea bags.

When the last of the 3 ply is gone it's grudgingly replaced with strips of yesterdays newspaper hung on a bent nail.

I've been in places where the employees jealously guard "their" office supplies.

Hoarding becomes a way of life so much so that delivery people hold on to their pens while the staff sign for the goods.

Instead of trying to find ways of improving income most companies driven by academically credentialed cretins who only know slash and burn, strip bare their already lean operations, often to the point of corporate failure.

You can't tell some people.....

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Power-User

Join Date: Jan 2010
Location: India
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#2

Re: Are You Penny Wise and Pound Foolish?

06/28/2011 1:03 AM

Most company' cut on business travel and Advertisements. I think both reduces business prospect of a Company

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Guru
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#3

Re: Are You Penny Wise and Pound Foolish?

07/01/2011 2:21 AM

when i worked at a big dutch firm it was handled by a big commission and they came to the conclusion to fire the people that do all the work and hire more managers.

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Guru

Join Date: Jun 2006
Location: Ottawa Canada
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#4

Re: Are You Penny Wise and Pound Foolish?

12/15/2011 11:51 PM

Wow. When austerity hits my company. Thats like...all the time right? When has there NOT been an austerity program?

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