Okay, times are tough and you've got to cut costs. But there's a good way and a bad way to do so. Across-the-board edicts and high-level SWAT teams that make "surgical strikes" are the bad way. Sure, they reduce spending; but they also decimate a company's ability to get anything done. Instead, cost cutting should focus on narrowing the number of things a company does, while ensuring that it devotes the resources needed to do those fewer things well. This monograph explains how executives can trim a company's spending without destroying its ability to do anything.