Cost Minimization Strategy Notes: Definitions & Explanations PDF | Download eBooks
Study Cost Minimization Strategy lecture notes PDF with organizational behavior definitions and explanation to study What is Cost-Minimization Strategy?. Study cost minimization strategy explanation with organizational behavior terms to review organizational behavior course for online MBA programs.
Cost Minimization Strategy Definition:
A strategy that emphasizes tight cost controls, avoidance of unnecessary innovation or marketing expenses, and price cutting.
Organizational Behavior by Stephen P. Robbins, Timothy A. Judge
Cost Minimization Strategy Notes:
Cost minimization is a money related technique that intends to accomplish the most financially savvy method for conveying merchandise and ventures to the require level of value. Remember that cost minimization isn't tied in with lessening quality or scamming clients it generally stays imperative to address client issues. Activities planned for limiting costs should be taken with consideration. The threat is that over-forceful pruning of overheads, utilizing less expensive crude materials or cutting compensation rates may detrimentally affect quality and client administration. Cost minimization incorporates techniques to expand resource turnover (which enables fixed expenses to be spread over more units of creation) and procedures to diminish direct costs (for instance, by constraining separation and customization of ventures and profiting by economies of scale).
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