Structuring Your Costs


“The Cost Structure describes all costs incurred to operate a business. Creating and delivering value, maintaining Customer Relationships, and generating revenue all incur costs.”



Effective cost control is crucial for long-term business sustainability, especially in competitive markets where profit margins may be slim. It requires a proactive approach, collaboration across departments, and a commitment to continuous improvement. It is important to note that when focusing on optimising costs the business must either maintain or enhance the quality of products or services. Regularly reassessing and adjusting cost structures in response to changes in the business environment is a fundamental aspect of strategic management.


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