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Discussion on Management Innovation Promoting Enterprise Cost Reduction and Efficiency Improvement

Abstract: Many new concepts such as positive and new kinetic energy conversion, the new normal of economic development, and supply-side reform have been introduced successively, which has determined that iron and steel enterprises have entered the stage of reshaping the value chain. The cultivation of corporate competitive advantage will depend more on the potential of internal management and the improvement of internal processes. It can be said that how to quickly improve the endogenous power of reducing costs and increasing efficiency of enterprises through transformation has become a core task of current steel companies. Management innovation is inseparable from management innovation and technological change, which requires companies to break through the shackles of traditional financial management systems and mechanisms.
[Author] : Laiwu Branch of Shandong Iron and Steel Co., Ltd.
[Classification number]: F426.31; F406.7

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