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Two of domains 14 points are point8 drive up beer and .4 start making decisions purely on the basis of cost discuss the importance of them to operation managers as well as all managers in today’s busi...

Two of domains 14 points are point8 drive up beer and .4 start making decisions purely on the basis of cost discuss the importance of them to operation managers as well as all managers in today’s business environment
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Various businesses are capitalizing on cost based decision making process. In this type of decision making, the cost of each available alternative is evaluated and most favorable cost for business is implemented as the final decision.

The primary importance of cost-based decision making are as follows:

  • Overall effectiveness of process can be enhanced substantially
  • Utilization of available resources can be increased effectively
  • Loss in the processes can be quantified quite easily
  • Future decisions can be taken effectively
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