ABC and ABM Approaches
The educator discusses Activity-Based Costing (ABC) and its application in Activity-Based Management (ABM).
ABC offers a more precise costing method compared to traditional allocation, especially in healthcare where it helps optimize resources. He illustrates how ABC can address the fairness issue in cost allocation, emphasizing its role in strategic decision-making and operational control. ABM involves using ABC data for market strategies, value chain analysis, and benchmarking against competitors.
How can advances in technology, such as AI and business intelligence, enhance the effectiveness of Activity-Based Management?
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