Profitability Management

The control of costs and revenues within a firm in order to maximise profitability. 

Related to the Income Statement and the Gross and Net Profit ratios. 

Interdependent with: 

• Operations Management and Human Resources as significant cost centres; 

• Marketing as the principal generator of revenue (but needs to pay for promotional strategies that aim to increase sales).  

Strategy is to minimise expenses and maximise revenue (well... duh)