Keywords: cost control, efficiency, effectiveness, competitiveness
Introduction to various dimensions of cost control
The two dimensions of competitiveness are efficiency and effectiveness. Efficiency, in terms of production of goods and services at the least possible costs and effectiveness in terms of achieving the company goals and objectives in terms of quality, customer service, market share, community service, etc., are explored. Various papers have been written on the issues of efficiency and effectiveness. The focus of this paper is on cost control. We discuss cost control from both the macro and micro perspectives. Global competition has made the issue of cost control ever more important for the sake of survival and competitiveness.