Companies can implement the Cost Optimization framework in their operations by identifying high impact areas to save costs across the organization. They can use a cost-benefit matrix to evaluate proposed reduction initiatives and determine their effectiveness. Initiatives that reduce costs and improve overall efficiency and quality are clear wins and should be pursued. Initiatives that can generate high effectiveness but might require more work are worth the trade-off and should also be pursued. However, initiatives that might not result in cost optimization due to cut corners that cost revenue as a result of lower quality output should be considered as a last resort.
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