Ignoring cost effectiveness can lead to several issues, such as:
Cash Flow Problems: Excessive spending can deplete cash reserves, making it difficult to cover essential expenses and leading to potential business failure. Reduced Competitiveness: Higher operational costs can result in higher prices for customers, making it difficult to compete with more cost-effective rivals. Limited Growth: Inefficient use of resources can stifle the ability to invest in growth opportunities, such as expanding into new markets or developing new products.