Question

Cooper, the owner of a small bicycle manufacturing company, is striving to keep his organization running smoothly while remaining profitable in a highly competitive market. Cooper chooses process implementation to give his company a competitive edge over others. Which of the following principles is he most likely to implement?

Answer 1

Answer:

Reducing Cost

Explanation:

From the question, it is said that Cooper owns a small bicycle manufacturing company and hence enhancing services will increase cost and make him struggle with profit in an environment already challenging. Creating new products or differentiating products are also not solutions to this problem, as they will incur more spend from the company. However, reducing costs is the only process implementation strategy that would help in a competitive environment, as profit maximization is ensured.