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A Study on Cost Control Techniques

Author : Assistant Professor A. Veeraviswanath, K. Sirisha Journa Name: International Journal of Science, Engineering and Technology Country : India Volume: 12 issue: 3 Year: 2024 Views : 520
Abstract:
In any organization, the major objective is to maximize profit, but the main constraints facing them are the rise in cost of operation. Due to this, the cost of production increases and could lead to certain cost control and cost reduction which make it complex for many organizations to operate as well organized cost limit of knowledge. The study aims to critically examine and evaluate the application of cost control and cost reduction in organizational performance and also to review the budget as an effective tool of cost control and cost reduction. A descriptive survey research was adopted. A total number of 50 questionnaires were administered and used for the study. The analysis of data collected was undertaken by applying appropriate statistical tools. Regression analysis was used to test the hypothesis with the use of SPSS. Based on the findings, it was evident that cost control has a positive impact on organizational performance and also the style of management has a positive impact on organizational performance.

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