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What is the difference between cost minimization and cost reduction?
Wiki User
∙ 11y ago
bogo ka!
Wiki User
∙ 11y ago
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Objectives exist on the strategic level. Market share, force reduction, production efficiency, etc. Performance targets on the tactical level. Percentage gain, additional savings, average service call cost reduction, etc.
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Cost Control - a method whereby costs are managed and monitored to ensure they do not grow beyond the projected amount.Cost Reduction - a method whereby costs are reduced from the projected amount
What is the difference between prime cost and variable cost?
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What is the difference between price and average cost?
marginal cost
