In an interview with Pat Kenny on RTE Radio this morning, Tim McCormick, co-author of Strategic Cost Reduction, a new book from ICAI Publishing, discussed: the pitfalls of incremental budgeting; quick and easy methods to get on top of costs; how businesses might learn from the Ryanair approach to cost management; and what Tim characterises as the Seven Deadly Sins:
- 'Pride' - Autocratic management
- 'Sloth' - Ignoring change
- 'Anger' - Lack of control
- 'Gluttony' - Overtrading
- 'Covetousness' - Overborrowing
- 'Lust for power' - Taking Big Risks
- Envy' - Creative accounting
Sub-titled "Cutting Costs without Killing Your Business", the book's authors are Tim McCormick, a chartered accountant with a background in banking and finance, and Dermot Duff, an engineer and lecturer in management, who appeared on TV3's Ireland AM programme, also this morning, to discuss the effects of the Credit Crunch
Purchase your copy of Strategic Cost Reduction online today here.