Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins

Exercise 50

What are some factors in the contemporary business environment that are causing changes in business firms and other organizations? How are the changes affecting the way those firms and organizations use cost management information?

Step 1 of 5

The factors in the contemporary business environment that affect business firms and cost management are:

1.?Increased global competition, which means an increasingly competitive environment for all firms and thus the need for cost management information to become more competitive; the need for competitive non-financial information in addition to financial information in cost management reports;