What is the key to managing costs effectively according to the video?

Cost Management and Strategic Decision-Making

Interactive Video
•
Business
•
10th - 12th Grade
•
Hard

Sophia Harris
FREE Resource
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5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Understanding cost as a cultural aspect
Cutting costs whenever possible
Increasing prices during good times
Hiring more financial analysts
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to maintain cost discipline during prosperous times?
To reduce the need for financial analysts
To prepare for future economic challenges
To avoid paying taxes
To increase profits immediately
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What approach did successful companies take towards layoffs and restructuring?
Across-the-board cost cutting
Hiring more employees
Strategic decision-making
Reducing salaries
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What strategic decision did Darwin Smith make for Kimberly Clark?
Expand the paper mills business
Cut costs across all departments
Sell the paper mills and focus on consumer products
Increase investment in natural resources
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What question did Peter Drucker suggest businesses should ask themselves?
What businesses are we in today that we would not enter if starting anew?
How can we cut costs?
What businesses should we enter?
How can we increase our market share?
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