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The company is facing rising operational costs, affecting its overall profitability. How can the company control costs effectively? a) Downsize the workforce to reduce labor
The company is facing rising operational costs, affecting its overall profitability. How can the company control costs effectively? a) Downsize the workforce to reduce labor expenses. b) Increase product prices to compensate for higher operational costs. c) Conduct a cost-benefit analysis for each operational process to identify areas for cost reduction. d) Invest in the latest technologies without considering their impact on cost savings. e) Shift production to a cheaper location with lower labor and overhead costs.
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