57 Participants will be presented with examples of fixed and variable costs as seen on slide 4 of the PowerPoint Presentation. Participants will break up into teams of 3-4 and will brainstorm 10 additional fixed and variable costs faced by businesses, in any industry. Participants will present their findings to the group and the answers will be written on a whiteboard or flipchart provided. 4 Introduction to the topic: how costs are linked to corporate strategy Participants will discuss the key learning material on slide 5. Learners will be asked to research well-known corporations in their areas to identify their corporate strategy. Based on the lists of fixed and variable costs identified during the previous exercise, participants will discuss how these costs impact a company’s ability to maintain cost reductions. Ask them to identify at least one initiative in each topic and discuss it with their colleagues. 20’ PPT FILE: TM3B _ Identifying opportunities for significant cost reductions 5 Introduction to the topic: what opportunities are available to an organisation to significantly reduce their costs? Slides 6-11 of the accompanying PowerPoint presentation discuss a wide range of opportunities that organisations can use to support their endeavours to reduce costs. The following questions can be used to support further knowledge acquisition: 60’ PPT FILE: TM3B _ Identifying opportunities for significant cost reductions
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