Strategic cost management quiz 1

  • What are the steps in strategic cost management?

    There are four stages of SCM:

    Formulating the strategies.Communicating strategies across the entire organization.Planning tactics and executing strategies.Developing controls and implementing them to track the success..

  • What is strategic cost management 1?

    Strategic cost management (SCM) deals with measuring and managing costs and aligning them to the business strategy.
    The cost and management accounting information thus developed would help managers to understand and implement the strategy, diagnosis the performance and influence behavior and decisions..

What are the implementation stages of Strategic Cost Management?

Implementation stages of strategic cost management include:

  • value chain analysis
  • strategic situation analy-sis and analysis of structural and administrative costs drivers.
    Value chain analysis is an instrument for strategic analysis that helps companies to better understand the competitive advantage.
    • ,

    What is an example of Strategic Cost Management?

    34 strategic cost management – decision making An example of a business process:

  • Credit card approval in a bank.
    An applicant submits an application.
    The application is reviewed first to make sure that the form has been completed properly.
    • ,

    What is strategic cost management – decision making?

    strategic cost management – decision making 235 first be allocated to batches of products to be manufactured (referred to as a Stage 1 allocation), and then be assigned to the units of product in each batch (referred to as Stage 2 allocation).


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