The Goal

The Goal

I received a lot of insight while doing this assignment . The most important value that I received from this assignment is that in today 's economic scenario cost reduction is the goal . If businesses want profit improvement then cost reduction should be an important strategy . It is not a difficult task to reduce the cost if the companies have necessary insight about how to use their cash , workforce as well as other vital resources in to ensure minimum wastage

Cost reduction has the following extremely important benefits

increased opportunities

p higher profits

stronger and more stable businesses

a larger customer base

In to achieve these goals the business owners , presidents , vice presidents , project managers , plant managers , line managers etc . should be specially made aware of the benefits of cost reduction , the statregies that can be helpful in cost reduction as well as the correct methods of reducing the cost of their respective companies

The insight that I gained can be applied by all businesses across the globe . If a manager knows the cost reduction techniques then he can become the most valuable staff of the management team . From the examples given in the book , The Goal it can be implied that the management of any company whether small or big should focus on reconfiguration of existing systems and indulge in a process redesign . Many strategies like outsourcing or using technology for higher productivity can help in attaining the goal of cost reduction . But before all this , a...