Turning Cost Into Profit

Turning Cost Into Profit


In virtually every company there are significant savings to be made from low cost investments in improving energy efficiency, better input utilization, waste minimization and reuse and in streamlining logistics and supply chain management. These investments came to be known as “low-hanging fruits” because of their low cost and relatively high return. They are also known as “win-win green investments” as they both improve the company’s bottom line and reduce its impact on the environment.

Exploiting these opportunities is particularly important in these difficult economic times where the opportunities for revenue expansion are limited. Yet many of these cost-saving opportunities remained unexploited for a variety of reasons that may involve lack of awareness and appreciation of potential savings, inertia, and difficulty in measuring the return on these investments.

The Turning Cost into Profit programme, is approved as a 'Vital Importance Programme' by the Human Resource Development Authority (HRDA) Cyprus and organisations participating with their employees, who satisfy the HRDA's criteria, are entitled to a full subsidy, thus, may attend this programme without any cost.

This programme includes 14 hours in-class training and a half-day private company consultation.

Date/Time: 09 & 23 June 2017, 08:30 - 17:00

Training Duration: 14 hours in-class training  and 4 hours in-house private consultation

Location: CIIM Nicosia ( View Map )


The two-day in-class training workshop will help you sensitize management to the presence of significant opportunities for cost-saving within your enterprise. You will raise your appreciation of regular reviews of operations for potential cost-savings and revenue generation through green investments.

You will practically apply the processes to save costs and calculate the Return on Investment (ROI) for your green investments.

This programme also includes a half-day in-house private consultation, that will allow your organisation to identify on site cost saving green investment opportunities, apply methods and techinques to assess the Return on Investment (ROI) and receive recommendations of how your company can overcome barriers and constraints whilst exploiting green investment opportunities.

In-class Programme Outline

  • Introduction and overview of the workshop
  • Identifying low-hanging fruits in your business: conserving resources and reducing waste lowering operating cost (Cases, Videos)
  • Low-cost / high return investments that break-even in 2-3 years and generating a stream of net cash flow for several years (Cases, Videos)
  • Energy and other resource use audits for greening your workplace and saving costs
  • Greening transport, logistics and the supply chain
  • Cases of companies achieving major savings through greening their operations and their supply chain (Videos)
  • Calculating the return on investment (ROI) and other co-benefits of green investments
  • Practical exercises on calculating ROI of specific green investments (Cases, Videos)
  • Constraints and incentives/financing
  • Measuring your environmental footprint before and after the green investment; cashing in for the improvement and offsetting the residual
  • Engaging your employees, customers, investors, and the community in cost saving and footprint reducing green initiatives; enhance brand and reputation through the media, including the social media
  • Identification by the participants of high-return green investments as well as constraints within the participating companies
  • Formulation of action plan by the participants from each company for identifying and exploiting cost-saving green investment opportunities


This training programme is designed for mid-to-senior level managers in companies of any size including senior engineers, operations managers, project managers, logistics and supply chain managers, chief financial officers, chief operating officers, and chief executive officers.


All CIIM Executive Education programmes are developed and taught by CIIM resident and visiting faculty who are widely recognised as skilled professional trainers with local and international business experience. Through many years of business consulting and teaching experience, CIIM faculty develop innovative long-lasting practical concepts that shape the practice of your daily professional responsibilities. The result is a practical educational experience which is designed to have an immediate effect into your business environment.


Trainer: Theo Panayotou ( Read Full Bio )

Trainer Bio

Theo Panayotou has been the Director and Professor at CIIM since 2000. Theo teaches Economics, Business Ethics, Cost-Benefit Analysis and Corporate Environmental Management. He has served for seven years as senior economist with the Rockefeller Foundation and for 23 years as Professor of Economics at Harvard University, where he established and directed the Environment and Sustainable Development Programme at the Centre for International Development.

In 2007 Theo Panayotou was recognized for his contribution to the work of the Intergovernmental Panel on Climate Change (IPCC) of the United Nations which won the Nobel Peace Prize in 2007. In 2010 he served as advisor to the High Level Advisory Group on Climate Change Financing of the UN Secretary General.

During his career Theo has served as advisor on environmental economics and management to many governments: in Brazil, Chile, China, Indonesia, India, Mexico, Thailand, Russia and the United States, as well as countries in Eastern Europe, Central America and the Mediterranean. In Cyprus he has served as member of the President’s Council of Economic Advisors (2003-2008). He has been consulted by many international organisations, including the World Bank, UNDP, UNEP, UNCTAD and FAO. He has also developed and delivered executive development programmes on corporate environmental management to companies and organizations around the world.

Furthermore he has held various honorary positions on Advisory Committees and Boards, including the National Committee for the Establishment of the National Institutes for the Environment, by the US Congress, Washington, DC; the Board of Directors, Center for Tropical Forest Science (CTFS) at the Smithsonian Institution, Washington, DC; and the China Council for International Co-operation on Environment and Development, to name but a few.

Theo has written extensively on the subjects of economic development, environmental management, sustainability and competitiveness. He has published over hundred papers, monographs and books and is considered a world authority on economic instruments and financing mechanisms for sustainable development. His most recent book is an edited volume, Environment for Growth, published by Harvard University Press.

He has a BA in Law / Economics from the University of Athens, an MA in Development Economics from York University (Canada) and a PhD in Environmental and Resource Economics from the University of British Columbia (Canada).

Expertise: Managing Innovation, Economic Analysis, Corporate Environmental Management, Ethics in Business and Government

Training Experience: Over 42 years of local and international experience in business training. In Cyprus, he has recently trained professionals from organisations including Piraeus Bank, Mutual Trust Cyprus Ltd, CING, MTN Cyprus Ltd, Sodexo Cyprus Ltd, Emservis Management Services Ltd and High Rank Government Officials from the Republic of Cyprus.


Programme Fee: €1,530

HRDA Subsidy: €1,530*

Programme Fee after HRDA subsidy: €0*

*This programme has been approved by the HRDA. Organisations participating with their employees, who satisfy the HRDA's criteria, are entitled to the subsidy.

Due to CIIM's non-profit status, no VAT is charged. The programme includes educational material, coffee breaks, refreshments and lunch.

To proceed with your registration, please click the button below to apply online. Reservation of seat is subject to availability.

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