![]() But in the end, the really important thing is to understand your cost structure in a strategic way, to understand how does your cost structure stack up against your competitors now and in the future. It's also very easy to leverage these kinds of opportunities to frankly go off to costs and sacred cows in your organization because of the nature of the context. Clearly they've been trying to do that cost cutting in a smart way because it's very easy to go off to the lower hanging fruit, which is obviously an opportunity in these times. Mark Foster: Cost cutting has clearly been one of the critical agendas for clients, particularly in the downturn. ![]() Question: How important is cost cutting in a time like now? So clients are balancing their way between the short, the medium, and the long term and beginning to have to make some real choices. So you have to make choices in that world and having to think about that and then beyond then as they're beginning to see the challenges of the next decade where we see major industry restructuring, the role of technology changing business again, and have to keep that context in mind as well. It's going to be a constrained world still. But they're beginning to turn their minds to a third context which is the world in front of us over the next 24 months where there clearly are going to be opportunities for growth. Then of course there's the pressures of the downturn which many clients are still working their way through in terms of how they're getting the basics right in their business, manage their costs, look after their customers, and have the control over the basic business. First of all, they still have in the back of their mind what the world was like before the downturn and some of the global competitive pressures that were out there in terms of new markets, changing competitors, having the right competitive cost structure for a global economy. Mark Foster: I think that our clients at the moment are trying to balance a number of conflicting contexts. Question: What are the questions at the forefront of businesses right now?
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