The components of cost – An area of vital importance to decision makers

Understanding the behaviour of costs as the trading patterns in a business change is an area of vital importance to decision makers. To be able to control costs and to see how they behave under changing conditions first it is essential to identify the different types of cost. Fixed costs Fixed costs are costs that…

Business Process Decomposition

What is it? Generally speaking, Decomposition is the process of breaking complex entities (processes, technology, business problems, business needs) into smaller sub-parts, and then breaking those smaller parts down even more, until the complex entity has been broken down into more discreet components with a more understandable structure. Activity decomposition is an abstraction technique that…