Title: Strategic Cost Management and Value Creation: The Missing Link
Abstract: The current business environment has witnessed several vast changes, especially during the last two decades. These changes have forced the business organizations to give more attention to managing value creation so that they can survive in this competitive world. Understanding of the relationship between the costs of the firm and the value the firm provides to its customers is the key to the ability of the firm to reach its profit potential. This paper, while being a part of emerging literature on strategic cost management, extends the existing knowledge of the relationship between costs and value. The main purpose of this research is to discussing a value creation model that a firm should focus on in order to develop a competitive advantage. An empirical study was conducted to determine the extent to which the currently used cost management tools are contributing in value creating processes.
Publication Year: 2007
Publication Date: 2007-06-01
Language: en
Type: article
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