Considering the phenomenon of globalization, technology and innovation happening across the world, almost every organization has a global presence in the wake of the 21st century, right from the beverage, his brand Coca Cola, to the IP brand IBM fashion brand, to telecom and computer brand Apple automobile brand Toyota to consulting brand the law. Each organization is making revenue by selling its products or services virtually in every continent, every country and every city of the planet. The competition is fierce and opportunity to increase revenue is declining daily for all organizations in this situation, Where increasing revenues are hard to come by? How can organizations continue to earn profit? They are left with two choices. either find another planet where they can sell their products or services to aliens.

Not possible so far, so the only alternative left with them is to reduce costs. Let's talk a little bit about cost reduction.