An organisation that tightly controls costs,refrains from incurring unnecessary innovation or marketing expenses and cuts prices in selling a basic product pursues a cost-minimisation strategy.

Question

Quizplus · Accepted Answer

The described actions of an organisation indicate that it is pursuing a cost-minimisation strategy, which aims to keep costs as low as possible while still providing a basic product or service. This strategy typically involves avoiding unnecessary expenditures, innovating only when necessary, and cutting prices to compete with other low-cost providers.

An Organisation That Tightly Controls Costs,refrains from Incurring Unnecessary Innovation