From the course: Corporate Finance: Profitability in a Financial Downturn
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Two pieces of advice
From the course: Corporate Finance: Profitability in a Financial Downturn
Two pieces of advice
- As you consider what costs to cut in your company to try to boost profitability, it's important to keep in mind that you might not want to cut some items because they'll hurt the potential for your company to grow in the longterm, and you want your company to be able to capture profitability not just in a downturn, but especially in the economic recovery that follows. Some of the areas where you might be told you shouldn't cut are off-limits topics and unaddressable spend. This may include certain personnel, or other off-limits topics like certain physical plants, facilities, or other assets. But no matter what anyone tells you about what assets you should or should not cut, there are other critical assets for any organization. Above an beyond that there are four categories of critical expenses that you should not cut no matter what, because if you do, it'll hurt your company's longterm growth potential, and its…
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