Cost management and strategy
Following are descriptions of three businesses. For each, assume that you are the CEO. Identify the most critical information you would need to manage the strategic decisions of that business.
1) Private hospital that competes on the basis of delivering high-quality services to an upscale clientele.
2) Small, high-technology firm that has just developed its first product and will begin sales in the coming quarter; five other products are under development.
3) American Sugar Company, which is a large firm that competes in the commodity sugar industry.