Examining the impact of uncertainty on business performance via strategic cost management adoption and implementation: the case of agro-based industries in and around Punjab, India

Rashmi Aggarwal, Tanvi Verma, Arun Aggarwal, Vandana Sharma, Balamurugan Balusamy and Simon Grima

International Journal of Business Performance Management, 2025, vol. 26, issue 1, 104-129

Abstract: Dynamic business environments require a change to survive. Strategic cost management (SCM) must re-conceive its future as new, improved, or reformed under opportunities and tough demands. Traditional cost management may not be adaptable to business turbulence. Increasing shareholder and customer demand, rapid information and technology improvements in manufacturing, and worldwide market rivalry with antiquated tools can be difficult. SCM goes beyond cost reduction and includes revenue generation and competitive advantage. This article examines the relationship between adopting and applying SCM approaches and company success in agro-based industrial businesses. Empirical survey data from agro-based industrial companies in Punjab were analysed using multivariate data analysis. According to contingency theory, size, technology, total productivity maintenance, strategy, and organisation culture are factors related to strategic cost management. All dependent factors, including control variable size, favourably affected SCM acceptance and utilisation, which has a pragmatic effect on agro-based businesses. SCM utilisation also mediated performance.

Keywords: technology; total productivity maintenance; organisational culture; strategic cost management; return on investment; return on sales; customer satisfaction; business performance; manufacturing industry; India. (search for similar items in EconPapers)
Date: 2025
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