Good leaders must make difficult decisions that can potentially impact a company or organization adversely. Assume that you are a senior executive (not the CEO) in your company (or one familiar to you). You are ambitious and your intention is to move upward in your organization to become the CEO.

Due to current financial constraints you have been tasked by the CEO to reduce corporate expenses by $5.25M over the next 3 years. How might you approach this opportunity to demonstrate your potential to be the next CEO of your organization? Be specific by providing a plan of action that fully reflects your considered approach to this assignment.