Faced with the constant threat of rising costs and low margins, executives are doing everything they can to survive. Initiatives that reduce costs, maintain cash flow and eliminate debt are now focal points for companies trying to cope with the current market. In many cases, CEOs are under serious pressure to deliver targeted benefits in a relatively short amount of time.
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In recent discussions with several former C-suite executives, we had a chance to ask them why internal teams typically struggle to accelerate performance initiatives when the opportunity arises. David Eldon, former Chief Executive and Chairman of HSBC said, “Internal improvement teams can deliver good value, but are subject to a number of drawbacks.”