Examlex
Each of the following are considered innovations practices,except:
Relevant Costs
Costs that are directly associated with a specific decision and will change based on the outcome of that decision.
Alternatives
Different options or strategies that can be considered or chosen in decision-making processes.
Quantitative Terms
Conditions or parameters that can be measured and quantified, often used in contracts and agreements.
Profit Maximisation
An objective of management to achieve the highest possible profit from operations, usually by increasing revenue and/or reducing costs.
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