Also refer to expenses, waste, customer satisfaction, business improvement, ISO 9000, TQM, School for Champions, Kurtus Technologies, Milwaukee, Wisconsin.
Cost reduction is an important factor in improving the state of a business.
It can obviously result in higher profits and a stronger enterprise. Most business leaders and managers would like to reduce costs, but many find it difficult to do the right things. This lesson will answer your questions and explain the factors involved in reducing business costs. There is a mini-quiz at the end of the lesson. Preparations for reducing costs Before attempting to reduce operating and production costs in a business, you must lay some groundwork.