Mar 3, 2007 10:30
17 yrs ago
3 viewers *
English term
Egypt
Beyond Words
Native in: Arabic 
Works in: English to Arabic, French to Arabic, Arabic to English
cost minimization Vs cost reduction?
Non-PRO
English
Bus/Financial
Economics
economics
What's the difference?
TIA
TIA
Responses
| 5 +10 | please see below |
Buck
|
Responses
+10
8 mins
Selected
please see below
Hi. Cost minimization is keeping costs as low as possible, whereas cost reduction is lowering existing costs, which may be percieved as being excessive. Boring examples below.
Example sentence:
We must minimise costs if we are going to complete the project within the budget.
We will have to reduce costs if we want to make up the deficit.
4 KudoZ points awarded for this answer.
Comment: "Thnx!"
Something went wrong...