Impact of strategic cost management practices on organisational performance of selected manufacturing firms in Nigeria.

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dc.contributor.authorAdigbole, E. A. , A. & O.F. Adebayo & Osemene
dc.date.accessioned2021-06-02T09:42:39Z
dc.date.available2021-06-02T09:42:39Z
dc.date.issued2019
dc.description.abstractThe use of the traditional cost management system (standard costing and predetermined overhead allocation system) in the manufacturing industry is less effective in product cost analysis, management, and decision making than the strategic cost management system (Activity Based Management (ABM), Life Cycle Costing (LCC), Target Costing (TC), and Total Quality Management (TQM)). Particularly in the face of continuous rising production costs, multiple product mix systems, and rising market competition resulting from globalization, it has become crucial for manufacturing firms to employ the strategic cost management system to refine product costing analysis and decision-making, and to attain production efficiency, which may lead to improved firm performance and market competitiveness. This study examines the effect of strategic cost management practices on firm performance of Nigerian manufacturing industry. The survey research design is employed to collect primary data, which are analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) method. The study reveals that strategic cost management practices positively impact organization’s performance. In light of this result of the study, it is recommended that manufacturing firms still using the traditional costing methods should consider implementing the strategic cost management techniques to enhance their performance and competitiveness. Key words: Activity – based costing, Life cycle costing, Target costing, Performanceen_US
dc.description.sponsorshipInstitute for Global Business Research (IGBRen_US
dc.identifier.citationInternational Conference Proceedings of Spring 2019 New Orleans Conference of Institute of Global Business Research.en_US
dc.identifier.issn2576 - 2699
dc.identifier.urihttps://uilspace.unilorin.edu.ng/handle/20.500.12484/5703
dc.language.isoenen_US
dc.publisherGlobal Business Research.en_US
dc.relation.ispartofseriesVol-3-No-1.;
dc.subjectcosting, Life cycle costingen_US
dc.subjectTarget costingen_US
dc.subjectPerformanceen_US
dc.titleImpact of strategic cost management practices on organisational performance of selected manufacturing firms in Nigeria.en_US
dc.typeArticleen_US

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