Here’s a story a friend of mine told me from within the walls of one of the world’s largest companies. Petrochem giant BP have a shocking brand rep. In my view Big Oil is as likely to create sustainable energy as a cycle maker invent aeroplanes. Hold on, didn’t that actually happen, though..?
Anyway. In this one instance they deserve praise. Heaps of it.
You can cut costs, continually cut, cut and cut all you like.
There eventually comes a point where the cost of something is cut so much that the value you expect to get from it can no longer be reaped.
And then it costs you twice as much as you would have paid in the first place to fix it.
Genius. Can this tale get plastered onto every buyer’s cubicle?