Cost control
What Cost control means in Business GCSE, as defined for AQA, Pearson Edexcel.
Definitions of Cost control
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Reference: AQA
Repeat business may lower the cost of attracting new customers, reducing the need to spend on attracting replacement customers.
Landfill taxes, collection charges and specialist handling add up, so how a business disposes of waste affects its costs.
Reducing cash outflow by cutting costs or delaying spending, which may take longer but improves cash permanently.
Part-time contracts may reduce total wage cost, while full-time staff cost more in salary.
Achieved by maintaining high quality, which reduces waste, rework and customer returns.
Topics that use Cost control
- Cash flow (AQA GCSE)
- Ethical and environmental considerations (AQA GCSE)
- Good customer services (AQA GCSE)
- Recruitment and selection of employees (AQA GCSE)
- Managing quality (Pearson Edexcel GCSE)
Related terms
- Brand reputation and repeat custom
- Business benefits
- Business costs
- Business costs and benefits
- Business ethics and reputation
- Business reputation
- Business response
- Cash
Using Cost control in the exam
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