"Competition is the keen cutting edge of business, always shaving away at costs." Henry Ford.
To be successful in the short, medium and long term, the cost strategy must do more than describe how the whole business will drive or hold costs down on an ongoing basis. It should also clarify how leaders will engender a cost-conscious culture throughout the business (for example through kaizen) and gain the buy-in of all colleagues.
With advances in technology, competition comes increasingly from