Answer this question fully, in short answer format.

What cost-cutting strategies does your company employ to cut costs?

When a company can produce a product or service at a lower cost than its competitors, it has a cost advantage. These businesses produce in greater quantities and benefit from factors such as low-cost raw materials or efficient processes and technologies. This also enables companies to capitalize on their cost advantage by pricing their products the same as their competitors while making more profit due to lower costs.

In Chapter 4, we look at five potential sources of cost savings: economies of scale, learning and experience, proprietary knowledge, input costs, and different business models. To better understand the cost advantages, I'd like you to do the following:

1-Select a company and determine what cost advantage source they may be utilizing. 2-Select a direct competitor of your chosen company and discuss the cost advantage your company has over the competitor. You can find out what resources and capabilities your chosen company is using to keep costs low.