This paper examines approaches for achieving dramatic Total Cost Down (TCD) through strategic-level management innovation, rather than partial cost reduction through tactical-level management improvement, as a management innovation technique for corporate survival during prolonged economic recession characterized by low growth such as the current environment. To this end, we review the significance, management techniques, and implementation methods of Total Cost Down (TCD) approaches at the strategic level that can respond to rapidly changing business environments, and analyze cases of actual application, thereby contributing to cost reduction and productivity improvement for managers and administrators working at the corporate frontlines.