Cost Management Regarding S.C. Adarco Invest S.R.L. Petroșani

Ileana – Sorina Rakos ()
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Ileana – Sorina Rakos: University of Petroșani

Ovidius University Annals, Economic Sciences Series, 2021, vol. XXI, issue 2, 1110-1119

Abstract: Globalization and development of socio-economic systems raise new challenges for managers, from fierce competition, to increased productivity and implicitly managerial performance. Thus, the managers of economic entities are determined to develop a good long-term vision regarding the global positioning on the market and to fully value the skills of human resources, in conditions of cultural diversity and to manage production costs as efficiently as possible. The basic tool that serves the management activity and implicitly to obtain a maximum economic efficiency is the knowledge of production costs. Applying rigor to costs and the entire activity, managers can analyse the possibilities of reducing costs and increasing performance, by applying a relevant method of calculating costs, respectively budgeting costs through the ABC/ABB method. For example, the company S.C. Adarco Invest S.R.L. from Petroșani. The study concludes with the author’s conclusion on the benefits of applying this method by economic entities with an industrial profile.

Keywords: managerial decisions; economic entities; cost management; ABC/ABB method; decision making process (search for similar items in EconPapers)
JEL-codes: M21 (search for similar items in EconPapers)
Date: 2021
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