Examlex
JCPenney and Neiman Marcus these firms have different business strategies.They both accomplish this by providing value to their customers while controlling costs.This is known as __________.
Cost-benefit Analysis
Cost-benefit analysis is a process used to evaluate the total anticipated cost of a project compared to the benefits in order to determine the best course of action.
Outsourcing
The practice of hiring third parties to perform services or produce goods that were traditionally performed or produced in-house.
Productivity Losses
The decline in the effectiveness or efficiency of a workforce, often leading to a decrease in output, revenue, or service quality.
Potential Outsourcing
The possibility of transferring certain job functions or services to external providers to increase efficiency or reduce costs.
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