Booz & Company Senior Partner and North American Managing Director Cesare Mainardi recently sat down with Paul Michelman of Harvard Business Publishing to discuss how executives should use a strategic approach to cutting costs—but often don't. His thoughts are based on the recently-published ebook, Cut Costs, Grow Stronger, co-authored by CEO Shumeet Banerji and Partner Paul Leinwand, detailing how cost cutting is and should be a strategic act, linked to a capabilities-driven strategy.