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The Leadership Book, 2nd Edition by Mark Anderson

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Understanding cost

Unless you understand some accounting basics, you will struggle to manage cost!

Frequency – regular.

Participants – colleagues with cost accountability.

Leadership rating ***

Objective

In the end, whatever the size of the business you work for or lead, cash is king – as it is in your daily personal life. There is no avoiding the fact that ultimately businesses or individuals go bust when, over an extended period of time, cash out exceeds cash in, and the deficit cannot be supported by ever-increasing debt.

This is an important reminder: that just because an organisation’s money is not your own does not mean you should treat it differently. If however you are a spendthrift who brings a casual attitude to money to work, ...

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