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Steps in Strategic Cost Analysis1) Recognize the suitable value chain and allocate costs and assets to it. 2) Identify the cost drivers of each value activity and how they interrelate 3) Recognize competitor value chains, and establish the relative cost of competitors and sources of cost differences. 4) Build up a strategy to lower relative cost position via controlling cost drivers or reconfiguring the value chain and/or downstream value. 5) Make sure that cost reduction efforts do not erode differentiation, or made a conscious choice to do so. 6) Test the cost decrease strategy for sustainability. 7) The three major elements of strategic cost management comprise:
Cash budget is a detailed budget of income and cash expenditure including both capital and revenue items. For control reasons the year's budget is usually phased in smaller periods
1. In order to boost the housing market throughout 2009 and into 2010, the federal government offered a tax credit to first-time home buyers and some repeat buyers.
Planning A business must plan for its success. What do we understand by business planning? It is about thinking in advance -- to decide on a course of the action to reach
#questioExercise 3-12 Computing Predetermined Overhead Rates and Job Costs [LO1, LO2, LO3, LO7] Kody Corporation uses a job-order costing system with a plantwide overhead rate base
Batch size of one Set up time is the amount of time needed to adjust tools and to retool for various product. Long set ups a change over time make the production of batches wit
Two-person, zero-sum games Two players X & Y have two alternatives. They show their choices by pressing two types of buttons in front of them but they cannot see the opponents
underlying assumptions of breakeven analysis and the limitations of this.
Input or exogenous variables These are variables of two types: 1) Controlled variables: These are variables that can be controlled by management. By changing the input
How costs behave as the level of activity/volume changes. Why an understanding of cost behaviour is important ? Types Variable e.g. petrol, direct materials Fixed e.g.
Planning, Directing, and Controlling A clever sign hanging on the wall of a business establishment: "The Managers are paid to manage the work-- If There Were No Problems we wou
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