Effects of Strategic Cost Management on Organizational Performance of Small and Medium Enterprises in Nakhon Phanom
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Abstract
The objective of this research is to test the impact of strategic cost management on the organizational performance of small and medium enterprises (SMEs) in Nakhon Phanom Province. A questionnaire was used as the data collection tool to collect data from 173 accounting executives. The statistical methods used for data analysis included descriptive statistics, percentage, mean, standard deviation, multiple correlation analysis, and multiple regression analysis. The findings revealed that strategic cost management-particularly cost driver analysis and strategic positioning analysis had a positive relationship and impact on organizational performance. Based on these findings, businesses should place importance on all dimensions of strategic cost management, as effective cost management and performance measurement significantly contribute to building competitive advantage. In particular, controlling product and service costs, as well as operational costs, can help organizations achieve their goals and create maximum value for stakeholders.
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