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What
Is Innovative Recession Economics?
Created by The
Next Idea, Innovative Recession Economics (IRE) is a groundbreaking and highly
creative cost-reduction program that is helping companies remain profitable in
today’s challenged economy. By thinking
outside the box and moving beyond traditional methods, IRE successfully
uncovers hidden expenses and identifies unique cost-saving strategies. To this end, IRE is proud to have saved clients substantial expenses, resulting in
the protection of jobs and enhanced profitability…even when revenues are in
decline.
How
Does IRE Differ?
Innovative
Recession Economics differs from other cost-cutting programs because of its
value-based focus on protecting jobs! Rather than relying on layoffs, IRE uses
proprietary analyses to reveal overlooked expenses and unique sources of
revenue. Additionally, we support
clients in more efficiently utilizing employee skill sets to generate higher
productivity…without increasing hours
or workload. Therefore, we accomplish
our mission with no disruption to staff, operations, or the standard flow of
work.
Unlike most
consultancies, Innovative Recession Economics does not merely pass along
strategies, then leave clients to struggle with implementation. Instead, we take a hands-on role in
execution, either completing change initiatives ourselves or actively directing
the process.
Why
Was IRE Created?
As a result of the recent,
dramatic changes in our economy, we find ourselves doing business in a new
world. And in this new economic world,
many of the old solutions are no longer sufficient. With traditional methods such as slicing jobs
merely compounding the problem—and amplified marketing efforts bringing
with them amplified expenditures—innovative economic solutions are quickly
coming to the forefront as the most effective methods for weathering the
current storm.
Innovative
Recession Economics was created to offer companies a humanistic and highly
effective solution for overcoming the challenges of the current downturn. In
addition to preserving jobs—and maintaining morale—IRE differs in that our
cost-mitigation methods add absolutely no expense to already stretched budgets.
Given that we charge only a
percentage of client savings, IRE
might well be considered business’ first win-win proposition since the housing
bubble burst back in 2007.
What
Industries Does IRE Service?
While IRE
specializes in the hospitality, leisure, entertainment, and food and beverage
industries, our creative techniques and meticulous expense-seeking missions can
boost the bottom line for almost any business.
This includes national and international chains and conglomerates as
well as startups, non-profits, and small-to-midsize organizations.
How
Does IRE Work?
Our cost-reduction
service is one of the most innovative in the industry. While we follow up with our unique,
proprietary methods, we initiate the process with basic strategies for
generating savings to enhance client net revenue:
·
Careful
and comprehensive analysis of P&L
·
Review
of operating ratios
·
Examination
of source and vendor pricing
·
Review
of eco-friendly product and solution options, to enhance
environmental
preservation in addition to cost-savings
·
Renegotiation
of source and vendor contracts
·
Review
and potential renegotiation of lease agreements
·
Operation,
production, and administrative cost-mitigation analysis
·
Identification
of potential new sources of revenue
·
Assessment
of employee skills and functioning
·
Interviewing
of administrative and key operating staff to keep
employees involved in the
process
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