Answer: Minimize costs and maximize revenue
Explanation:
Every person who owns a company or any type of business seeks to minimize costs and increase revenues. A person always expects that at the time of investing in the creation of a product or service they always have to use less and receive more. This can also be called efficiency.
Efficiency can be defined as the process of reaching the goals set using the least amount of resources. This does not mean that the product or service may have lower quality because fewer resources are used for its creation, but that in many cases the use of a large number of resources can affect the company or the environment in general.
Companies want to receive more than they invest, it is common to listen and anyone who works in these sectors knows that this is present. Using fewer resources allows profits to be greater.
It is important to see this as an intelligent way to make adequate use of resources to still have the ability to produce goods that will be beneficial to both producers and future consumers.
Minimizing costs can reflect the good management of the company to use what it has to do something good, and especially knowing that it will receive more than it has used.
An example to better understand the concepts of minimizing costs and maximizing income would be that you place yourself as someone who is going to create a product, you want to make shoes. You know that to create a shoe you need certain materials and these have their cost. With the investment you make to produce those shoes you expect the profits to be higher than the costs, then you create a plan for that to be so. The higher the cost of creating the shoe, it may take longer to get the income, but this part already depends on other factors that involve a marketing strategy, knowing the market with which it is competing.
