Rational expense reduction: Lean budgeting at Irving Oil
Article first published online: 21 FEB 2012
© 2012 Wiley Periodicals, Inc.
Journal of Corporate Accounting & Finance
Volume 23, Issue 3, pages 61–69, March/April 2012
How to Cite
Carr, L., Lawler, W. and Reny, J. (2012), Rational expense reduction: Lean budgeting at Irving Oil. J. Corp. Acct. Fin., 23: 61–69. doi: 10.1002/jcaf.21754
- Issue published online: 21 FEB 2012
- Article first published online: 21 FEB 2012
The downturn in the global economy has made companies across all industries cut expenses to meet investor expectations. But if these cuts aren't done in a rational manner, they can lead to dysfunctional behavior that can just intensify the economic pressures worse. This article describes an action-based development program jointly designed by Irving Oil, a Canadian regional energy processing company, and Babson College, a leading provider of executive education. The focus of the program was to meet top management goals for expense reduction, while, in the longer run, building a culture of lean management. © 2012 Wiley Periodicals, Inc.