Cost reduction
Process used by organisations to reduce costs
📊 Rating
2 news mentions · 👍 0 likes · 👎 0 dislikes
📌 Topics
- Corporate Finance (2)
- Energy Industry (1)
- Leadership Transition (1)
- Energy Sector (1)
- Executive Leadership (1)
🏷️ Keywords
BP (2) · Share buybacks (2) · Cost cutting (2) · Murray Auchincloss (2) · Oil profits (1) · Refining margins (1) · Energy sector (1) · Profit margin (1) · Oil and Gas (1) · Financial results (1)
📖 Key Information
Cost reduction is the process used by organisations aiming to reduce their costs and increase their profits, or to accommodate reduced income. Depending on a company’s services or products, the strategies can vary. Every decision in the product development process affects cost: design is typically considered to account for 70–80% of the final cost of a project such as an engineering project or the construction of a building.
📰 Related News (2)
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🇺🇸 BP steps up cost cutting as profits slide
The oil giant also suspends its share buyback programme ahead of the arrival of its new boss....
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🇬🇧 BP steps up cost cutting as profits slide
The oil giant also suspends its share buyback programme ahead of the arrival of its new boss....
🔗 Entity Intersection Graph
People and organizations frequently mentioned alongside Cost reduction:
- 🏢 Share repurchase (2 shared articles)
- 🏢 BP (2 shared articles)
- 👤 Murray Auchincloss (2 shared articles)
- 🌐 Profit margin (1 shared articles)
- 👤 Big Oil (1 shared articles)