Cost Controls—Operations

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This week we will focus on the cost controls for operations. You will continue to add to your Cost Control Template started in Week 3 Assignment 1 & Week 4 Assignment 1. In a minimum 250 word overview in a Word document following MLA format, outline a minimum of five different procedures and strategies that will be implemented to control costs in operations for your business concept. Here are some areas to consider:

  • Labor, which is a significant part of the cost to operate a business. Some of the areas to consider when controlling labor could be scheduling, training, and accountability of time/hours worked.
  • Theft is another area that impacts the bottom line of a business. There should be control strategies to prevent internal and external theft.
  • Maintenance, cleaning-related costs, and utilities.
  • Developed a minimum of five different procedures and strategies on how to control costs in operations for the business concept.
    Met word count and followed MLA guidelines for writing style, spelling, grammar, and citation of sources.