| dc.description.abstract | This research is about cost cutting strategies in a business firm, with an aim of making profit and
grows tremendously. The study sought to find out the extent to which stakeholders participated
in cost reduction plans or the contribution they would bring to that effect.
The primary objective in a business firm is to make good profits. Economists generally say that
the positive difference between TR and TC means gold. The problem stands that despite all the
effort to implement the cost reduction strategy, not much of the expectations have been realized
even when stakeholders have been involved in the implementation plans.
The purpose of the study was to establish how much stakeholders could contribute to the cost
saving strategy, if they were to be properly involved in the plan.
The objectives of the study were to examine the role played by the workforce in the Cost cutting
plans, to establish the ways in which the company’s Management systems approach or
implement the cost cutting strategy, to find out how much the Service providers or contractors
contribute to the cost management of their client and to find out the effect of Budgets on the
operational systems in respect to the cost saving strategy.
The methodology used involved a research design that gave a direction of approach to the field
visit and data acquisition. The research instruments used included questionnaires, interview
guide, phones and notebooks to gather the info. The findings showed that only a few
stakeholders are involved in the strategy which affects the successful implementation. Decisions
made excluding other stakeholders are responsible for the poor results.
The recommendations are that all stakeholders must stake part in the cost strategic planning and
and implementations and performance rewarded, if something substantial is to be realized. | en_US |
