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COSTS MANAGEMENT – IMPACT IN DECISION MAKING

Mădălina Mihä‚ilä‚

Journal of Applied Economic Sciences, 2011, vol. 6, issue 4(18)/ Winter 2011, 304-307

Abstract: In the context of globalization of the economy and also of the competitive environment development, process management becomes more complex, with openness to client needs and changes and taking account of the internal and external environment. Therefore, a proactive approach to seek the most appropriate methods to ensure corporate activity in terms of competitiveness and profitability is a priority for all companies. Such an approach can be achieved, but only on a basis of adequate information support in decision making and requires a lot of information to be produced, supplied, interpreted and rigorously controlled. Cost management is a tool that can provide control within companies, to increase productivity and achieve profitability and expected rentability. There is an increasing demand for higher quality information and higher productivity for the calculation and analysis of information costs. Business organizations need realistic and timely information on the costs to integrate the activities of designing and developing new products, their manufacturing, marketing and after-sales services in an overview.

Keywords: dynamic analysis; credit report; sole debtor; credit risk; financial risk; performance indicators (search for similar items in EconPapers)
JEL-codes: M21 M41 (search for similar items in EconPapers)
Date: 2011
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