The process of managing the various activities in the value chain, along with the associated costs, is commonly known as:
A) activity-based costing.
B) strategic cost management.
C) total quality management.
D) computer-integrated costing.
E) sound management practices (SMP).

Question

Quizplus · Accepted Answer

Strategic cost management is the process of managing the costs of various activities in the value chain to enhance strategic positioning and competitiveness. It involves understanding the cost drivers and managing them effectively to optimize overall costs.

The Process of Managing the Various Activities in the Value