What are the major avenues for achieving a cost benefit

Question

What are the major avenues for achieving a cost benefit?

Answer 1

The two main Avenues for Achieving a Cost benefit:

1. To achieve a cost benefit, a firm must confirm that its cumulative costs across its finish value chain are lower than competitors’ cumulative costs.

2. Controlling the Cost Drivers: here, some main cost drivers that come into play in determining a company’s costs in each activity part of the value chain.