Global Journal of Human Social Science, E: Economics, Volume 23 Issue 3

© 2023. Sandro Tamborindegui. This research/review article is distributed under the terms of the Attribution-NonCommercial- NoDerivatives 4.0 International (CC BY-NC-ND 4.0). You must give appropriate credit to authors and reference this article if parts of the article are reproduced in any manner. Applicable licensing terms are at https://creativecommons.org/licenses/by-nc-nd/ 4.0/. Global Journal of HUMAN-SOCIAL SCIENCE: E Economics Volume 23 Issue 3 Version 1.0 Year 2023 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Online ISSN: 2249-460x & Print ISSN: 0975-587X Harnessing the Power of Cost Control in Risk Management: Advantages and Benefits for Companies By Sandro Tamborindegui Introduction- In today's highly competitive and globalized business environment, it is essential for companies to maintain a strategic edge over their competitors. One of the most critical aspects of a successful business is effective cost management, particularly in the context of risk management. This essay will discuss the advantages and benefits of a company having deep control over product costs, focusing on its role in risk management. The objective is to provide insights into how cost control can be employed to manage risks and create a sustainable competitive advantage. GJHSS-E Classification: LCC: HD61 HarnessingthePowerofCostControlinRiskManagementAdvantagesandBenefitsforCompanies Strictly as per the compliance and regulations of: