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Strategic Cost Management: The New Tool for Competitive Advantage,Used
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As often reported in Business Week and Fortune, most large companies today concede that their cost systems are desperately obsolete. In this eagerly awaited book, John Shank and Vijay Govindarajan, nationally known experts on the strategic use of cost information, address headon the fundamental concepts of management accounting that are in desperate need of change. The authors demonstrate how strategic cost management, the first analytic framework to relate meaningful accounting information to a firms business strategy, is revolutionizing accountingand overall business practices in leading firms. With numerous extended examples including CibaGeigy, Ford, Texas Instruments, and many more, the authors show how the three key tools of strategic cost managementvalue chain analysis, strategic positioning analysis, and cost driver analysisprovide a sustainable competitive advantage over firms whose cost systems are in disarray.With persuasive evidence, Shank and Govindarajan demonstrate the strategic power of value chain analysis, i.e., linking external value creating activities all the way from basic raw materials, to component suppliers, and through to the ultimate enduse product delivered to the consumers. Next, they examine how cost management and cost control must be differentiated depending on the strategic positioning chosen by the firm, be it cost leadership or product differentiation. Finally, the authors offer penetrating insights on cost driver analysis using such examples as Champion International and Motorola to describe the uses and limitations of activitybased costing, quality costing, and technology costing.Traditional cost analysis, the authors show, is limited to assessing the financial impact of managerial decision alternatives, with no consideration for strategic business objectives. In this indispensable guide, Shank and Govindarajan show how Strategic Cost Management (SCM) relates to a broader context, where strategic elements become far more conscious, explicit, and formal, and cost data is used to develop superior strategies en route to gaining sustainable competitive advantage.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.
For more information, please visit www.P65Warnings.ca.gov.
- Q: What is the page count of this book? A: This book has two hundred seventy-one pages. It provides an extensive exploration of strategic cost management principles.
- Q: What type of binding does this book have? A: This book is hardcover. The hardcover binding offers durability and a professional appearance.
- Q: What are the dimensions of this book? A: The book measures six point five inches in length, one point two six inches in width, and nine point seven six inches in height.
- Q: What topics does this book cover? A: This book covers strategic cost management, value chain analysis, and cost driver analysis. It focuses on linking cost information to business strategy.
- Q: Who are the authors of this book? A: The authors are John Shank and Vijay Govindarajan. They are recognized experts in the field of management accounting.
- Q: How can I apply the principles in this book? A: You can apply the principles by analyzing your firm’s cost systems and aligning them with your business strategy. The book provides frameworks and examples to guide you.
- Q: Is this book suitable for beginners in management? A: Yes, this book is suitable for beginners. It explains fundamental concepts in a clear and accessible manner.
- Q: Can this book help me improve my company's competitive advantage? A: Yes, the book offers insights into how strategic cost management can provide a sustainable competitive advantage. It includes practical applications and case studies.
- Q: What is the recommended reading level for this book? A: This book is aimed at professionals in management and accounting. However, it can be understood by anyone interested in strategic business practices.
- Q: How should I store this book? A: Store this book in a cool, dry place to protect it from moisture and damage. Keeping it upright will help maintain its shape.
- Q: How can I keep this book in good condition? A: To keep the book in good condition, avoid exposing it to direct sunlight and extreme temperatures. Regularly dusting the cover will also help.
- Q: Is this book safe for children? A: No, this book is not specifically intended for children. Its content is focused on advanced business concepts and management practices.
- Q: What if my book arrives damaged? A: If your book arrives damaged, you should contact the seller for a replacement or refund. Most retailers have return policies for damaged goods.
- Q: Does this book come with a warranty? A: No, this book does not come with a warranty. However, you can inquire about return policies from the retailer.
- Q: Can I find practical examples in this book? A: Yes, the book includes numerous practical examples from companies like Ford and Texas Instruments. These case studies illustrate key concepts.
- Q: Is this book a good resource for strategic management courses? A: Yes, this book is an excellent resource for strategic management courses. It provides valuable insights into cost management and business strategy.