It’s a well known axiom of any business, that there’s two ways to improve the bottom line, to generate more profits, this for mid to larger sized companies. The first most obvious way is to increase revenue, to generate more sales, and the other is to cut internal costs.
But realize that most businesses have a difficult time “cost cutting” their way into more profitability. On the other hand, the wastage and the excessive internal costs that’s incurred, will unnecessarily shrink a portion of the hard earned profits that the …