Given today's tumultuous times, nearly all organizations are looking at ways to reduce costs. But if executives follow the same approaches they have been using for years, they are likely to do more harm than good. Our research suggests that 60 percent of cost initiatives don't achieve their targets, and 30 percent of cost reduction programs substantially weaken a company's competitive position.

Adaptive Cost Management is a new way to address this problem. Costs are managed as a diverse portfolio of "assets" that support strategy, mitigate risks, enhance enterprise efficiency and run basic services. Viewing costs in this fashion enables management to gain a holistic view of the company's overall spending and helps shift the focus of the internal debate from cutting costs to a strategic discussion of the organization's business strategy and investment agenda.

In this webcast, Monitor thought leaders Eamonn Kelly, Josh Lee and Karin E. Stawarky explain how Adaptive Cost Management works, and answer audience questions about how executives can use the techniques to make strategic investment choices that create lasting value.

Read more articles in this series explaining how business leaders can seize opportunities during these times for lasting change and growth.