Good governance

The best time to cut costs is when you’ve lots of money.

Otherwise, it will be too late. I’m commenting on a Reuters report that Lufthansa is asking its airline employees to do “more savings.” In its Feb. 6, 2015 report, it was reported that more savings are needed “to prevent tough competition on fares and rising external costs.” Here’s the link to the article http://uk.reuters.com/article/2015/02/06/uk-lufthansa-unions-idUKKBN0LA1KK20150206

Germany’s Lufthansa is not unique. Many people and organizations are happy reaping their cash bonanza in good times, only to stumble as soon as it gets dried up. So what’s the lesson? Do cost-cutting in good and bad times. That’s a sure win for everyone — labor and management alike.

That’s why I’m crazy doing Kaizen as it is a universal and powerful management strategy for everyone.

Image credit: procon.com.

Standard

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s