Just like flinching from a punch, cost cutting may be instinctual, but it is highly reactive and extremely passive. It is not going to help you win any of the fights you are in, and it is not going to stop the pummeling. Unless your costs are wildly out of control, cost cutting should not be your focus.
Anthony Viceroy, President of Global Operations, Porter Novelli writes, "Upon peering into its crystal ball late last year, the Economist dubbed 2009 "The Year of the CFO" — which sounds like a pretty exciting prospect for a guy like me. But in its article, the magazine went on to posit, “Recession, credit crunch and the increasingly complex nature of global companies will all play directly into the bean counter’s hands......that’s harsh"
Anthony Viceroy, President of Global Operations, Porter Novelli writes, "Recently the fear of losing a job has led people to set aside their natural inclination to take chances. Even those with great track records are looking over their shoulders nervously. So should they believe a boss who tells them to be bold and dare to fail—who says “the only failure is not daring to try?"