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There is no question that the economy is not what it used to be. As global giants fall from grace into bankruptcy businesses are taking drastic measures in order to cut back on spending. As the owner of a successful global retailer, I have begun measures to protect my company and cut back on spending. Now is not the time for extravagance or waste, businesses can stay alive by being as frugal as they possibly can be without sacrificing their products or services.

As I have always prided myself on the quality of our products, I knew that if I ever needed to make some cutbacks that it would not be in the production phase of my business. Also, I knew that I depended upon each and every one of my workers and I valued all of their talents and the time that they devoted to promoting my business. I would never want to let any of them go, therefore making laying off employees another option that was out of the question.

But my sales had declined for six straight months and I knew that I had to take action in order to conserve money before it was too late. I enlisted my top advisors and we brainstormed on ways that we could save some money. The first plan that they brought to my attention involved our employees’ laptop computers. All of my sales and executive teams were issued laptops that were replaced with new models every two years. My advisors calculated that I would save over a hundred thousand dollars if I purchased a new Compaq Presario battery for the computers instead of replacing the entire laptop.

The first thing that always seems to go on a laptop is the battery. A new replacement Compaq Presario battery is incredibly cheap. Purchasing one hundred new batteries opposed to one hundred new computers was a great way to save some money without sacrificing my product. I bought a new Compaq Presario battery for each of the laptops that I had in circulation.

In keeping with the theme of cutting back on equipment, we realized that you could purchase a refurbished Hewlett Packard plotter. A Hewlett Packard plotter can cost thousands of dollars brand new. We heavily relied upon our expensive color printers for all of our product advertising. Knowing that we had the option of buying a refurbished Hewlett Packard plotter would significantly decrease our overall spending on advertising and office equipment.