Asked by Jelena Kosir on May 20, 2024
Verified
Customer value is an important part of activity-based management and it enables an organisation to achieve both cost reduction and improved customer value through the use of which of the following?
i. Identifying major opportunities for cost reduction.
ii. Determining root causes of these costs.
iii. Developing programs to eliminate the causes of these costs.
iv. Introducing performance measures to monitor the effect of these programs.
A) i, ii and iv
B) i, ii and iii
C) ii, iii and iv
D) All the given answers
Activity-Based Management
A management approach focusing on managing activities as a way to improve the quality and reduce the costs of goods produced or services provided.
Cost Reduction
The process of cutting expenses to improve profitability without compromising the quality or availability of goods and services.
Customer Value
The perception of what a product or service is worth to a customer versus the possible alternatives, often influencing their loyalty and purchasing behavior.
- Examine the complete value chain and its importance within managerial accounting for strategical decision-making processes.
Verified Answer
Learning Objectives
- Examine the complete value chain and its importance within managerial accounting for strategical decision-making processes.
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