What Challenges Do Leaders Face in Reducing Costs?
While the benefits are clear, leaders often face several challenges in reducing costs:
Resistance to Change: Employees may resist changes that they perceive as threats to job security or comfort. Maintaining Quality: Cost-cutting measures should not compromise the quality of products or services. Balancing Short-term and Long-term Goals: Leaders need to ensure that cost reductions do not hinder long-term growth and innovation.