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By Julien FOURNILLON, senior consultant, Initio (groupe Square)
Businesses have faced enormous uncertainty since the COVID-19 pandemic started. Top management had to react and think over their short and long-term strategies taking into account that the virus could be with us for a while, leading us to work as lean as possible and simultaneously rightsizing their expenses.
Before going into details it is worthy to determine what costs reduction policy means. A costs reduction policy according to Mersereau (associate professor who worked closely with Henri Bouquin, known as the “father” of the management control) is a “managed cost reduction defined by the elimination of a constant acquisition as well as a consumption of resources and an...
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