Become a Successful Business Improvement Specialist
Learn How to Reduce Your Business Costs
Course Duration
Approx. 11 Hours 58 Minutes
Course Price
$200
Lectures
113
Key Concepts Covered in this Course
- How to reduce costs in your business
- Compensation, office, equipment etc. cost reduction activities
- How to save your business money and control your budgets
- Techniques to reduce costs and keep them lower
- Risk, resource, ROI etc. considerations to be made
- Risk, resource, ROI etc. considerations to be made
Course instructor
Robert Chapman
Business Improvement Specialist
As a Business Improvement professional, I’ve gained extensive expertise in Project Management, Lean Six Sigma, and Process Improvement. My accomplishments include delivering projects that saved organizations significant resources, streamlined processes, improved user experiences, and reduced errors and waste. Additionally, I hold a Lean Six Sigma Black Belt certification.
Course Summary
Business Cost Reduction Course: Learn How to Reduce Business Costs
With this comprehensive and practical course. You will discover various cost-saving strategies and tools that you can apply to your organization. You will also see real-life examples and case studies of how other businesses have successfully reduced their costs. Enroll today and start saving money for your organization.
- 3 downloadable resources
- Certificate of completion
Course Reviews
The content is well-structured, providing a step-by-step guide on various aspects of cost reduction, making it applicable to businesses of all sizes.
David Beck
Course Overview: Learn How to Reduce Your Business Costs
Course Description
Learn How to Reduce Your Business Costs: A Practical Guide
Business costs are constantly increasing, affecting businesses of all sizes and industries. How can you find ways to save money and improve your bottom line? This course will show you how to identify and target the key areas of your P&L statements that can be optimized for cost reduction. You will learn about various options for cutting costs in your compensation, equipment, 3rd parties, marketing, expenses, and systems. You will also see how to apply these options in practice, with real examples and evidence.
This course will equip you with tools, techniques, and downloadable resources that you can use to plan and implement your cost reduction strategy, according to your specific needs and goals. This course is not about telling you what to do, but giving you the power to choose what is best for you, from the wide range of options available.
This course will cover different types of business expenses, and the considerations you need to take into account when reducing them (such as risk, communication, timelines, etc.). This course will also feature examples, demonstrations, and case studies to make the content easy to understand and apply. If you want to learn how to reduce your business costs effectively and efficiently, this is the course for you.
Course Breakdown
- Prework questions
- Review your profit & loss statement
- Conduct your first analysis
- Make a plan
- Review of the findings – compensation
- Review all vacancies
- Freeze vacancies
- Cancel vacancies
- Review vacancies – example
- Review all job roles
- Review all roles – template example
- Review all job roles – conclusion
- Review all job roles – example
- FTE calculations
- FTE calculations – FTE calculator
- FTE calculations – analysis
- FTE calculations – recommendations
- FTE calculations – benefits and drawbacks
- Offshoring
- Offshoring – how to do it
- Offshoring – considerations
- Offshoring – example
- Automation
- Automation: Considerations
- Automation – case study
- Restructuring
- Restructuring – example
- Junior employee opportunities
- Junior employee opportunities – examples
- Reduce use of contractors
- Reduce use of contractors – example
- Overtime – set the scene
- Overtime – the investigation
- Overtime – conclusions
- Overtime – delivery of change
- Overtime – outcome
- Performance related pay
- Additional – pay rise cut, freeze or delay
- Additional – bonus cut, freeze or delay
- Change bonus eligibility
- Additional – performance related to goals
- Additional – eliminate coordinator type roles
- Final comments
- Review of the findings – expenses
- Meet remotely
- Meet remotely – Culture and benefits
- Change policies
- Change policies – list of policies
- Change policies – benefits and drawbacks
- Change training approach
- Additional options
- Final comments
- Review of the findings – office
- Go completely remote
- Go completely remote – considerations
- Adopt hybrid approach
- Adopt hybrid approach – costings
- Reform facilities management approach
- Reform facilities management approach – approach to take
- Reform supplies approach
- Final comments
- Review of the findings – systems and subscriptions
- Find alternative providers
- Find alternative providers – How
- Find alternative providers – what
- Find alternative providers – the results
- Merge systems
- Final comments
- Review of the findings – Marketing and advertising
- Review performance
- Review performance of sales & social media
- Review performance – benefits and drawbacks
- Review set up
- Review set up – 4 types
- Review set up – benefits and drawbacks
- Final comments
- Review of the findings – 3rd parties
- Change contract approach
- Change contract approach – requirements
- CCA – Standard fixed term
- CCC – Alternative flexible term
- CCA – Standard plus
- CCA – Reward
- Change provider
- Change provider – the results
- Final comments
- Review of the findings – equipment
- Explore what we did
- Ask procurement team to reduce costs
- Change damage and loss policies
- Explore outsourcing of maintenance
- Final comments
- Risk
- Communication
- Timeframe
- Resourcing
- Need to invest
- Need to invest part 2
- Need to invest part 3
- ROI
- Market trends
- Long term planning
- Process improvement part 1
- Process improvement part 2
- Time for YOUR plan
- Feedback and final thoughts
- Review key learnings
- Thank you
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