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Driving Down Cost: How to Manage and Cut Costs- Intelligently: How to Manage and Cut Costs- Intelligently by Andrew Wileman

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7 Wired and Global

The two key themes of the internet and globalization are very much of our time and are central to strategic cost management.

The Internet

Is it a fact or have I dreamt it, that by means of electricity, the world of matter has become a great nerve, vibrating thousands of miles in a breathless point of time?

—Nathaniel Hawthorne, 1851

A century ago, productivity in manufacturing was transformed by the development of mass production lines like Ford’s. The internet has given us the opportunity for a similar productivity revolution in service businesses and functions.

Take a retail banking transaction. In a traditional bank branch this might cost on average $15–20, including the costs of counter staff, office managers, buildings, ...

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