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The Leadership Book, 2nd Edition by Mark Anderson

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Managing costs

It is easy to think about managing costs as ‘cutting’. It isn’t – it’s about your attitude to resources and priorities; less about what you spend money on than how you think about the way you spend it.

Frequency – continuous; there is always money to be saved!

Key participants – anyone with a budget.

Leadership rating ***

Objective

As a business leader, you will inevitably have some financial responsibility. You will be expected to demonstrate financial management – in particular the ability to deliver your team’s planned performance within budget. You must aim to apply six principles.

  • Planning – you must be clear about your strategic and operational priorities for expenditure.
  • Contingency – your financial planning should ...

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