TAILIEUCHUNG - Cost reduction strategies and the growth of selected manufacturing companies in Nigeria

This study examines the relationship between cost reduction strategies and the growth of manufacturing companies in Nigeria using data from annual reports of 40 manufacturing companies quoted on the Nigeria Stock Exchange within the period of 2012-2016. | Cost reduction strategies and the growth of selected manufacturing companies in Nigeria International Journal of Mechanical Engineering and Technology IJMET Volume 10 Issue 03 March 2019 pp. 196 203 Article ID IJMET_10_03_020 Available online at http ijmet JType IJMET amp VType 10 amp IType 3 ISSN Print 0976-6340 and ISSN Online 0976-6359 IAEME Publication Scopus Indexed COST REDUCTION STRATEGIES AND THE GROWTH OF SELECTED MANUFACTURING COMPANIES IN NIGERIA Ben-Caleb Egbide Otekunrin Adegbola Rasak Bamidele Adewara Sunday Oladipo Olufemi Landmark University Omu-Aran Kwara State Nigeria Eshua Ruth Covenant University Ota Nigeria ABSTRACT The problem of high manufacturing costs has led to the shutdown of many manufacturing companies in Nigeria. This study examines the relationship between cost reduction strategies and the growth of manufacturing companies in Nigeria using data from annual reports of 40 manufacturing companies quoted on the Nigeria Stock Exchange within the period of 2012-2016. 40 manufacturing companies were sampled purposively for this study. The study took changes in material cost changes in labour cost and changes in administrative overhead as variables for cost reduction strategies while changes in turnover as the variable for Growth. Correlation analysis was conducted to determine the association cost reduction strategies and growth while regression analysis was used to determine the impact of cost reduction strategies on the growth of manufacturing companies. Results showed a positive significant relationship between cost reduction strategies and growth of manufacturing companies in Nigeria. The study recommends that manufacturing companies should implement value analysis in order to reduce material costs and the implementation of cost reduction strategies in all manufacturing companies in Nigeria. Key words Strategic Management Accounting Cost reduction strategies Value analysis Budget Discipline Nigeria Cite this .

• Quản trị kinh doanh
• Cost reduction strategies
• Growth of manufacturing companies
• Nigeria Stock Exchange
• Strategic Management Accounting
• Cost reduction strategies
• Cost reduction
• Control best practices
• Corporate cost control strategies
• Human resource department costs
• Benefits costs
• Compensation costs
• Development costs
• Financial manager
• Accounting department costs