Most executives will state that "we have too many cost reduction opportunities" but when asked how many will specifically drive profitable growth then they may answer "I am not sure but they should". Such broad based initiatives that are taken up as a result of problem can result in "cost reduction fatigue" where cost reductions are unsustainable or are not aligned with the long term profitable growth.
Strategic leaders spend a lot of time and efforts on developing robust strategic plans, vision, road maps and initiatives, and they should spend just as much time if not more on the "people" to ensure that execution per the vision is realized. Industry experts state that no matter how difficult the strategic planning is, execution can be 10 times harder however typically it is the flawlessness of the execution that separates the winners from the losers.
Business leaders can significantly improve the ROI on the R&D, and Operations capital by strategically approaching all available federal & state tax credits and rebate program. Research & Development Tax Credits and Commercial & Industrial Energy Conservation Rebates are two such examples. Read on to gain insights into profitability improvement opportunities these credits & rebates offer.