Strategic cost management is:
A) the process of determining cost drivers.
B) the recognition of the importance of cost relationships among the activities in the value chain.
C) the process of managing cost relationships to the firm's advantage.
D) cost-causing factors.
E) two of the answers are correct.

Question

Quizplus · Accepted Answer

Strategic cost management involves both the recognition of the importance of cost relationships among the activities in the value chain (B) and the process of managing those cost relationships to the firm's advantage (C).

Strategic Cost Management Is