Strategic Cost Management Models

Strategic cost management is a significant area of research in current business conditions.Identifying key cost drivers can help companies focus on essential activities in the business process.That implies that the organization needs to implement an appropriate strategic cost management framework to reduce costs in key areas on which its business success depends.The aim of this paper is to analyse the instruments and propose a model of strategic cost management with the aim of more realistic presentation of the amount of costs and achieving more efficient and effective operations.