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McKinsey say 90 percent of cost reduction programs fail

According to McKinsey: many cost-reduction programs are "illusory, short lived, and at times damaging to long-term value creation".  Their research concludes that only 10% of cost reduction programs show sustained results three years later. Yes, you read that right: 90% of cost reduction programs fail.

Read this blog to find the full McKinsey report.  Or read Mike Gammage's concise summary which highlights the three fundamentals from the report, for sustainable performance improvement:

(1) 'Seeing' the process

(2) Local engagement

(3) Understanding the whole

Mike is one of several presenters you can meet at this year's "Inspiring Performance" conference in London, September 22-23.

 

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A community for discussing the latest happenings in banking IT. Credit Crunch impacting Risk Systems overall, revamp of mortgage backed securities, payment transformations, include business, technology, data and systems architecture capturing IT trends, 'what to dos?' concerning design of systems.


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