Several strategies can be employed for cost control:
Budgeting: Establishing a detailed budget helps in tracking and controlling expenses. Cost-Benefit Analysis: Evaluating the costs and benefits of different business activities ensures that resources are used efficiently. Outsourcing: Delegating non-core activities to external vendors can reduce costs. Process Improvement: Implementing lean management and other process improvement techniques can eliminate waste and reduce costs. Technology Utilization: Leveraging technology for automation and data analysis can enhance cost-efficiency.