MockQuestions

Manager Mock Interview

Question 26 of 32 for our Manager Mock Interview

Manager was updated by on March 30th, 2023. Learn more here.

Question 26 of 32

Tell me about a cost-cutting initiative you created at your last position. Was it effective?

"While working for Company XYZ, I worked very hard to wear many hats so that my employer did not have to hire out certain tasks. For example, I offered to manage the social media accounts because I am good with that. As the Assistant Manager, it wasn't in my job description, but I knew I could do it, so I offered."

Next Question

How to Answer: Tell me about a cost-cutting initiative you created at your last position. Was it effective?

Advice and answer examples written specifically for a Manager job interview.

  • 26. Tell me about a cost-cutting initiative you created at your last position. Was it effective?

      What You Need to Know

      Many management roles also require budgetary responsibilities, and the interviewer would like to know that you take finance-related responsibilities seriously. Maybe you actively look for ways to save your employer money. Perhaps you achieved cost-savings in the past by streamlining a process, minimizing the need to hire by doubling up on tasks, or procuring the best price from vendors. Be sure to include a tangible result, success, or achievement, when giving your reply.

      Written by Ryan Brown on November 13th, 2020

      1st Entry Level Example

      "While working for Company XYZ, I worked very hard to wear many hats so that my employer did not have to hire out certain tasks. For example, I offered to manage the social media accounts because I am good with that. As the Assistant Manager, it wasn't in my job description, but I knew I could do it, so I offered."

      Written by Rachelle Enns

      1st Experienced Example

      "In my current position, I changed vendors for a few products and supplies because they were offering a better price. With some, I negotiated better interest rates and asked our service providers to be more competitive. In the first year of joining Company ABC, my cost-saving actions saved them just under $60K."

      Written by Ryan Brown on November 13th, 2020

      2nd Experienced Example

      "I saved my previous company nearly $1M over two years by sourcing a new production partner from China. They offered the same great product at a much more competitive price and also offered drop-shipping on a number of products. I love to seek out new opportunities to present cost-savings to my employer."

      Written by Rachelle Enns

      Anonymous Interview Answers with Professional Feedback

      Anonymous Answer

      "I had a rep that was using more travel budget than any other person on my team, and it was determined that she was not booking through our travel center. After speaking with her, I learned that she didn't like to stay at chain hotels, and her airline bookings were scheduled for off-hours that dramatically increased pricing. When I showed her how much more money she was spending than the rest of the team and how much time she could save by delegating her travel plans. This effectively cut costs by more than 50% the next quarter, and it was never a problem again!"

      Rachelle's Feedback

      This example shows your keen eye for detail and the fact that you have a thumb on the beat of everything around you (what your team is doing). Great solution!
      Show More Answers

    • Next Question