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The recession and credit crisis are causing precipitous declines in consumer and business demand. In response to declining sales, many companies need to resize their business and reduce costs in order to maintain acceptable margins - or even just to stay afloat. The main question is how far to go. Should you focus on a tactical approach that delivers incremental savings in a relatively short time? Or a structural approach that delivers results that are larger and more sustainable? The current economic crisis is shaping up to be worse than expected. As a result, many companies are finding they must become more aggressive about reducing costs and resizing the business to operate efficiently at reduced volume.
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