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    Tim Horton's and Reduction in Cost

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    Identify an organization and recommend methods to reduce costs. What effects do technologies have on costs? What are some lower-cost sources the organization can utilize to reduce costs? What considerations might cause a profit-maximizing firm to decide to forgo using lower-cost sources?

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    Solution Preview

    So, let's come up with a good model organization. It's usually pretty easy to think about manufacturing companies, or service companies that do something straightforward. To make this simple, let's take Tim Horton's as our example.

    One of Tim Horton's biggest costs is labour. One possible method by which to reduce costs would be a more widespread adoption of self-service stores. This reduces the number of employees required to serve customers. A possible extension of this technology would be to move towards both self service and self checkout. Tim Horton's has a ...

    Solution Summary

    This solution of 368 words looks at Tim Horton's and how it manages to reduce costs using lower-costs sources. It takes the specific example of labor and analyzes strategies Tim Horton's use.