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Fit for Growth: A Guide to Strategic Cost Cutting, Restructuring, and Renewal
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About Fit For Growth: A Guide To Strategic Cost
Product description A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. * Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States From the Inside Flap Very few organizations manage their expenses for sustainable success. And when the time inevitably comes to cut their costs, many companies cut in a way that makes them weaker, not stronger. The experienced consultants with PwC's Strategy& team reveal the hidden problems of conventional cost management--and how your company can do better. Drawing on decades of research, observation, and experience helping clients, these experts have developed a unique approach to help CEOs and senior executives cut costs constructively. The Fit for Growth concept redirects an organization's resources and investments toward its few differentiating capabilities--the strengths that set it apart from competitors. When a company manages costs this way, it becomes fit for growth. Its cost structure, organization, and culture are aligned with its strategy. In this book, the authors take you through every detail of the Fit for Growth approach. They walk you step by step through the nine most important levers to restructure costs, complete with case studies, and practical examples from leading companies around the world. From mobilizing to scaling to executing to culture change and leadership, this valuable hands-on reference stays with you throughout the entire process. It shows you how to: Galvanize the executive team and the organization to embark on a transformation Apply cost reduction levers while avoiding common pitfalls Overcome the shortcomings of basic change management techniques by using the best of your existing corporate culture Confidently manage morale and keep the entire organization engaged Avoid falling back into old, unproductive behaviors Apply proven tools and techniques for sustaining the benefits of the transformation. For the first time, senior thought leaders with Strategy& share in detail their leading practices and collective experiences to help you enable change and cultural evolution in your own organization. Fit for Growth is your definitive game plan to cut costs and grow stronger. From the Back Cover PRAISE FOR FIT for GROWTH "Building a company for growth requires efficiency, confidence, and innovation. What I love about this book is how accurately it captures the business world in which we live. Based on their vast experience, the authors offer valuable perspective on how to ensure your organization's competitive fitness for the future." ―RICHARD ASHWORTH, President of Pharmacy and Retail Operations for Walgreens "Growth-oriented companies have the foresight, courage, and discipline to focus on what truly brings distinctive value to their customers, making tough trade-offs to invest in and execute only those ideas with the greatest impact for their customers. Fit for Growth expertly and succinctly details how organizations need to work, think, and act differently to align their growth agendas with their cost agendas and ensure profitable and sustainable growth." ―KRISTI SAVACOOL, CEO of Aon Hewitt "Fit for Growth is a comprehensive guide for any organization searching for accelerated growth, especially in a low-growth environment. The book's practical examples provide clarity on how efficiency, cost consciousness, and strategy can be combined in a stimulating way." ―DR. WOLFGANG BÜCHELE, CEO of Linde AG "Fit for Growth reminds us that strategic clarity and coherence set companies apart, but that choices on efficiency and focus are required to drive investments in strategy and maximize shareholder returns." ―SEAN CONNOLLY, President and CEO of ConAgra Foods "Fit for Growth provides excellent insights on how to strike the right balance of driving a growth agenda while staying cost competitive, including not only a conceptual framework but also hands-on, practical, and highly relevant implementation guidance." ―DR. RAINER MARTENS, Member of the Executive Board and COO of MTU Aero Engines AG "Having lived in the trenches with the authors, I came to know the full price of clutter and complexity. Fit for Growth is a blueprint for reigniting growth and unlocking value that has been tested in many of the deepest trenches―a real reminder that growth is about purpose, simplicity, and discipline." ―JOHN BERISFORD, President of S&P Global Ratings "Fit for Growth provides excellent guidance to executives who want to drive profitable growth and align winning strategies with a sound cost structure and operating model. Tangible examples and practical techniques show how to provide the leadership required in a forward-thinking, cost-effective, and operationally sound organization." ―SANDRA M. VOLPE, SVP of Strategic Planning, Communications, and Contractor Relations for FedEx Ground About the Author VINAY COUTO is a principal with PwC US. JOHN PLANSKY is an executive at State Street. DENIZ CAGLAR is a principal with PwC US. The authors bring more than 70 years of combined strategy and business transformation consulting experience and the unrivaled industry and functional capabilities of the PwC network to solve companies' toughest problems and help them capture their greatest opportunities. Strategy& is PwC's strategy consulting business.
