BALANCED SCORECARD AND STRATEGIC COST MANAGEMENT: RECIPES FOR PRODUCTIVITY RATING OF NIGERIAN MANUFACTURING COMPANY

2015 ◽  
Vol 2 (1) ◽  
pp. 1-12
Author(s):  
BEREDUGO SUNNY B BIOBELE ◽  
Keyword(s):  
Balanced Scorecard ◽  
Cost Management ◽  
Strategic Cost Management ◽  
Manufacturing Company

scholarly journals Integrated framework for strategic cost management based on target costing, ABC, and product life-cycle in PDP: Empirical experience

2020 ◽  
Vol 10 (1) ◽  
pp. 31-43
Author(s):  
Maísa Martins Ferreira ◽  
Selma Regina Martins Oliveira
Keyword(s):  
Life Cycle ◽  
Product Life Cycle ◽  
Development Process ◽  
Cost Management ◽  
Business Management ◽  
Target Costing ◽  
Product Lifecycle ◽  
Product Life ◽  
Integrated Framework ◽  
Strategic Cost Management

This study aims to contribute to the planning process on product management. To do so it presents a integrated framework based on strategic cost management, using the methods target costing, activity-based cost (ABC) based on the product lifecycle. This proposal was structured as it follows: Phase 1: determining Target Cost; Phase 2: determining ABC defrayal to the light of the defrayal based on the product lifecycle. The research was elaborated to the light of specialized literature, from which we extracted the variables to formulate the methodology. After that, to show the feasibility and plausibility of the method we applied a hypothetical case study based on the development process of a product to the light of a course/MBA in Business Management in Institution of Higher Education in Brazil. The results were satisfactory and validated the proposal suggested. The survey findings indicate that the integrated method between ABC, target costing and products lifecycle applied in MBA Business Management is quite satisfactory.   Keywords: Framework, target costing, activity-based cost (ABC), costing based on product life-cycle, product development process (PDP);

scholarly journals The association between strategic cost management and enterprise risk management: A critical literature review

2011 ◽  
Vol 9 (1) ◽  
pp. 184-195
Author(s):  
Mohamed Elsayed ◽  
Ananda Wickramainghe ◽  
Marwa Abdel Razik
Keyword(s):  
Risk Management ◽  
Value Chain ◽  
Positive Relationship ◽  
Cost Management ◽  
Enterprise Risk Management ◽  
Value Chain Analysis ◽  
Total Quality ◽  
Strategic Cost Management ◽  
Chain Analysis ◽  
Enterprise Risk

Reviewing literature and application of strategic cost management (SCM) and enterprise risk management (ERM) are critical and significant for corporate management to facilitate top management to employ appropriate SCM and ERM processes and systems especially in occurrence of constant and regular business turn around, crises and turbulence in recent time in world of business. This paper revisits and reviews the association between strategic cost management and enterprise risk management. Based on this review, the following propositions were developed; firm, which adopted SCM, is more likely to adopt ERM approach, there is a positive relationship between audit type and the association between ERM and SCM, and there is a positive relationship between company size and the association between ERM and SCM. The association between ERM and SCM differs from industry to another. The study also develops a framework for SCM composes of the following items: SWOT analysis, benchmarking, competitive advantage, value chain analysis, implement strategy that reduce cost during the value chain analysis by using target costing, accounting based-costing, accounting based-management, just in time, total quality management, life cycle, theory of constraints, and measure performance by using balanced scorecard.

СИСТЕМАТИЗАЦІЯ ВИТРАТОУТВОРЮЮЧИХ ЧИННИКІВ ДЛЯ УПРАВЛІННЯ ВИТРАТАМИ ПІДПРИЄМСТВА НА ТАКТИЧНОМУ ТА СТРАТЕГІЧНОМУ РІВНЯХ

2022 ◽  
pp. 38-46
Author(s):  
Наталія Йосипівна Радіонова ◽  
Маргарита Іванівна Скрипник
Keyword(s):  
Interest Rates ◽  
Cost Management ◽  
Raw Materials ◽  
Market Competition ◽  
Driving Factors ◽  
Government Support ◽  
Structural Factors ◽  
Economic Market ◽  
Cost Drivers ◽  
Strategic Cost Management

The article attempts to substantiate the key approaches to the systematization of cost-driving factors from the enterprise cost management perspective (tactical and strategic) and offers a definition to a factor concept. The study presents the existing scientific approaches to the classification of cost drivers as well as an interpretation of cost-driving factors. Groups of structural factors within internal and external environment that affect enterprise costing have been identified along with revealing the character of such influence, i.e. whether they provide a direct indirect effect on the company expenditures. Given the tactical and strategic management objectives, the authors suggest systematization of all cost drivers into two groups. In particular, tactical management covers the following factors: output scale, product range, company cost management methods, qualification of personnel, and depreciation accrual. Within the scope of this study, strategically critical factors are represented by organizational business pattern of production, technology level, lack of brand awareness for domestic products, inflation rate, average salary range, low solvency, high costs for raw materials and energy, high tolls, import dependency, strong market competition, low demand, lack of government support, excessive tax burden, frequent changes in tax legislation, high loan interest rates, unfavourable investment environment, poor networking between domestic enterprises in complementary industries, small share of medium-sized businesses or small business alliances. In addition, in the frameworks of strategic cost management, the study offers to classify the cost drivers into the following groups: economic, market- or tax-based, financial and systemic. Apart from that, the relationship between individual cost-driving factors has been revealed. The findings argue that strategic cost management has a number of limitations associated with certain challenges to attain accuracy in forecasting change in factors for successive periods.

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