I was doing research for my web site, on ways to save money. Checking other web sites and discussion forums, I found that the cheapskates are hitting new – and funnier – lows. Choosing a spouse according to how frugal he or she is, and reusing the plastic from bacon packages were just a couple of the serious suggestions. Probably the suggestion that was the most ridiculous was to stop drinking beer. What are we trying to save all this money for? In any case, here are some more funny ways to save money. I suspect, or at least hope, that many of these really are not meant to be serious suggestions. Don’t try these at home. Ways To Save Money? Unplug your clocks at night to save on electricity. Carry powdered drink mix and add it to water when eating out, to save on buying drinks. Install a cat door and train your cat to go outside and to the neighbors yard to go to the bathroom.
This saves you on cat litter and time cleaning the yard. Tell everyone you’ll be out of town for Christmas, so you can shop the after-Christmas sales for presents. Ask your friends to save the labels for you off any new products they buy, so you can put them on your thrift-store purchases when you are buying gifts. Run around the house and close the heater vents in all the rooms except your bedroom before going to sleep. Encourage mice in the house by leaving crumbs around – so your cat will have a free food supply. Learn speed-reading and read books for free while in the aisle at the book store. Leave everything in the same place in your house, so you can easily get around at night without turning the lights on. Bring back rolls of coins from Canada, to use at the laundromat and in pop machines, saving you 20% or more, depending on the exchange rate. Okay, these may be funny ways to save money, but did any of them tempt you? Do you pick up pennies on the street? Wouldn’t it be more efficient to just stay on the clock at work for an extra minute? Hey, and while you are there, take a big drink of water – to save on your home water bill.
There is an information asymmetry problem here in that managers might be willing to do the same job for less. Furthermore, the number of qualified executives for a given position is often small, so creating a self-selection scenario can be problematic. The best that companies can do is to be very clear on what is expected and then negotiate for the best price. So, it is possible that GD could have paid less to their executives and gotten the same results. We have no way to tell for certain. 1.2 billion, or about 1.5 cents per dollar. There may have been viable alternatives to the downsizing strategy pursued by Anders at GD. For example, the company might try to produce its way out of trouble, as Lincoln Electric did in the previous case. It might enter other markets and retrain its workers. The company might also pursue total liquidation or sale: if a company is more valuable to shareholders dead than alive, managers are obligated to end it. But none of these alternatives seems likely to be more successful. Unlike Lincoln, GD faces declining demand in a very uncertain market, and is not already focused on a core competency.
GD and its competitors have a history of poor performance in diversification efforts, and there is nothing to indicate that this will change. While GD could theoretically attempt to restructure itself to be more efficient in serving its current markets, what new structure would offer it the “critical mass” necessary to compete more effectively in those markets? In short, if GD cannot find a strategy to compete in a market, it is better off exiting that market and returning any residual value to shareholders or reinvesting it where a promising strategy exists. One could argue that Anders and the executives were not good enough at developing better strategies, but given that they fared better than their competitors, it seems likely that they judged correctly. You can order a high-quality custom essay, term paper, research paper, thesis, dissertation, speech, book report or book review from our professional custom writing service. We have employed more than 500 highly qualified Ph.D. Master’s academic writers to provide students with professional academic writing help. Feel free to contact our company right now!
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