kostnaðarforgangs
Kostnaðarforgangur is an Icelandic term that translates to "cost priority" or "cost leadership" in English. It refers to a business strategy where a company aims to become the lowest-cost producer in its industry. This strategy focuses on minimizing expenses throughout the entire value chain, from production and distribution to marketing and administration. Companies pursuing kostnaðarforgangur typically achieve this through economies of scale, efficient operational processes, technological innovation, and aggressive cost control measures.
The primary goal of kostnaðarforgangur is to gain a competitive advantage by offering products or services
Implementing a kostnaðarforgangur strategy can involve various tactics. These might include outsourcing non-core activities, investing in