Explain the Term Cost Leadership

question 63

Essay

Explain the term cost leadership. What are the possible ways through which a company would try to become a cost leader? How far is it desirable to implement cost reduction measures?

---

Definitions:

Joint Stiffness

A condition characterized by reduced flexibility or mobility of a joint, often resulting in pain or discomfort.

Bilateral Entropion

A medical condition where both eyelids are inverted, causing the eyelashes to rub against the eyeball, potentially damaging the eye.

Antibiotic Ointment

A topical preparation infused with antibiotics to prevent or control bacterial infections on minor cuts, wounds, or burns.

Supplemental Oxygen

Additional oxygen provided to patients to ensure adequate blood oxygen levels, often used in cases of respiratory distress or chronic lung conditions.