Organisational readiness for target cost management in new product development : a case study of food manufacturing company in the UK
Target COSt management has been considered as the most effective cost 1l1anagenlent strategy for new product development stages, particularlv in its contribution to businesses with competitive advantages. Target cost management is market-driven that requires the cooperation of all departments within...
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| Format: | Thesis Book |
| Language: | English |
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| Summary: | Target COSt management has been considered as the most effective cost 1l1anagenlent strategy for new product development stages, particularlv in its contribution to businesses with competitive advantages. Target cost management is market-driven that requires the cooperation of all departments within an organisation and various players across the value chain. For 1l13ny industries, target cost lllanagenlcnt offers excellent benefits across product life C) cle generalh- and new product development srages particul.rrlv. \lthough a substantial number of studies pertaining- to target cost 1l1anag-clllcllr in most industries have highlighted the essential characteristics rhar contribute to the high adoption rate and success, little is known about the condition of its low adoption in a food manufacturing company. As such, this study looked inro the organisational readiness for target cost management in new product development stages. This research assessed six essential elements of target cost management. The research analysed qualitative case study data retrieved from experienced managers in a food manufacturing company. The question raised is 'is this company ready for target cost management?The interviews revealed the fundamental concept of target cost managernent within the new product development process although not entirely exercised. The organisation exhibited cross-functional involvement hy incorporating customer input and top management support in the new product development process. The author has discovered that further improvement in the current practice of cost data is crucial to ensure that the organisation has detailed cost information. This study lists several integral factors of successful implementing target cost management, such as corporate strategy, profits goals and objectives, leadership and strong suppOrt from the leadership, as well as characteristics of target cost management. The study findings enhance understanding and aid researchers and managers in light of target cost management. It is hoped thar this research inspires researchers to further explore organisational readiness for target cost management, such as corporate strategy, profits goals and objectives, leadership and strong suppOrt from the leadership, as well as characteristics of target cost management. The study findings enhance understanding and aid researchers and managers in light of target cost management. It is hoped thar this research inspires researchers to further explore organisational readiness for target cost management . |
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| Physical Description: | ix, 245 leaves; 30 cm. |
| Bibliography: | Includes bibliographical references(leaves 207-228) |