____ is the use of cost data to develop and identify superior strategies that will produce a sustainable competitive advantage.
A)Strategic decision making
B)Strategic cost management
C)Competitive advantage
D)Customer value

Question

Quizplus · Accepted Answer

Strategic cost management involves using cost data to inform and guide strategic decision making in order to achieve a sustainable competitive advantage. This approach involves analyzing costs across the entire value chain and identifying areas where costs can be reduced or managed more effectively, while still delivering customer value. By using cost data to inform strategic decision making, companies can take a more proactive and effective approach to managing costs, which can lead to improved profitability and competitiveness over time.

____ Is the Use of Cost Data to Develop and Identify