activity based management (ABM)
Definition
Approach to management that aims to maximize the value adding activities while minimizing or eliminating non-value adding activities. The overall objective of ABM is to improve efficiencies and effectiveness of an organization in securing its markets. It draws on activity based-costing (ABC) as its major source of information and focuses on (1) reducing costs, (2) creating performance measures, (3) improving cashflow and quality and, (4) producing enhanced value products.
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