Approach to cost cutting

Prominent CEOs and management scholars have often said, “You can’t achieve greatness by cutting costs.” What are these people talking about?

What is a potential fallacy behind the idea that workers in the bottom 10 percent or 5 percent of the workforce are substandard performers?

Managers of some small businesses save costs by eliminating most of the land-line telephones and require that employees use their personal cell phones to make most business calls.

What do you see as the advantages and disadvantages of this approach to cost cutting?