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A blueprint to change the cost culture of Entity X

Köllmann, M.P.H. (2019) A blueprint to change the cost culture of Entity X.

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Abstract:The purpose of my investigation is to create full cost visibility, eliminate bad costs and change the cost culture within the organization. Therefore, we initialized and performed a cost reduction project named Zero Bad Costs (ZBC), which is part of Company X’s new global finance vision for 2021. To realize sustainable cost reduction and change the cost culture, we designed a blueprint which is applicable for all cost categories within Company X. This blueprint is used to drive the ZBC projects and to achieve repetition. In the blueprint all steps necessary to decrease costs and ultimately change the cost culture within an organization like Company X, are explained in detail. We applied this blueprint for the first ZBC project within entity X. We have found a lack of cost awareness amongst entity X employees and we identified saving opportunities. Following the steps of the blueprint systematically will not only identify problem areas and correct issues but will also change the attitude of people towards costs and therefore ultimately change the cost culture in Company X.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics, 85 business administration, organizational science
Programme:Industrial Engineering and Management MSc (60029)
Link to this item:http://purl.utwente.nl/essays/79611
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