Assuming you are a consultant of a firm that is on a verge of bankruptcy, the owner asked you to save his company. What are your recommendations or strategies to answer his request? You are free to choose any industry. Use the following Stages of Strategic Cost Management: 1. Formulating strategies. 2. Communication of strategies in the entire organization. 3. Planning and carrying out tactics, to execute those strategies. 4. Developing and implementing controls to track the success.