Cost cutting has been a dominant theme in board rooms for at least the last year. But Cesare Mainardi --managing director of Booz & Company and co-author of Cut Costs + Grow Stronger --says a lot of companies do not know how to cut costs strategically. If done right, Mainardi says, companies can implement aggressive cost cutting rapidly. He describes appropriate cost cutting strategy, and details his notion of the right process, in this interview with Harvard Publishing (the publisher of his book):