Which of the following focuses on the management of activities with the objective of improving the value received by the customer and the profit received by providing this value?
A)activity-based management
B)contemporary cost control
C)functional-based cost management system
D)JIT

Question

Quizplus · Accepted Answer

Activity-based management (ABM) is a management approach that focuses on managing activities to improve the value received by the customer while also improving the profitability of the organization. ABM involves identifying and analyzing activities, determining their costs and relationships to products or services, and taking action to improve their efficiency and effectiveness. The other options, contemporary cost control and functional-based cost management system, may help control costs but do not necessarily focus on improving customer value and profitability. JIT (Just-in-Time) is a production and inventory management approach that aims to minimize inventory and improve efficiency, but it is not directly focused on improving customer value or profitability.

Which of the Following Focuses on the Management of Activities