Sukanta Maiti 
We can define the term ‘standard cost’ as the expected cost per unit of the products produced during a period, which is based on various elements of cost like direct material, direct labour, overheads, etc.
cost control is a process of regulating or control the cost of operation within an organization. Basically, it is the practice of identifying and reducing business expenses to increase profits.
The elements of costs are those elements that constitute the cost of the manufacture of a product. The cost of an industrial enterprise may be divided into three principal elements,
The term product life cycle refers to the time period a product is introduced to consumers into the market until it’s removed from the market. The product life cycle is the process almost every product goes through from when it is first introduced into the market until it is removed from the market.
Revenue and cost can be studied by examining the total revenue and total cost of a business. Break-even Analysis implies that at some point in the operations, total revenue has to be equals to the total cost.
A Plant Location is a place, where men, money, material, machinery, etc are brought together for manufacturing products.
Work-study investigates the work done in an organization and it aims to find the most effective way of using industrial resources like man, material, machinery, money, etc. Every company wants to achieve the best qualities of the product with the minimum possible time.
Management style is a specific way manager go about executing their goals. Management style regards the way that a manager plans, handles, make decisions, designate, and manages their staff.
Zero-Based Budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period, regardless of whether each budget is higher or lower than the previous period.
MBO is defined as a management practise which aims to increase organizational performance by clearly defining the goals and subordinate objectives of the organization that are agreed to both management and employees.
