Cost Management Practices and Strategic Decision Making in the, Nigerian Banking Sector
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Date
2011
Authors
Kuye, O.I.
Uadiale, O.M.
Journal Title
Journal ISSN
Volume Title
Publisher
University of Lagos Press ,University of Lagos, Akoka,Yaba - Lagos,Nigeria.
Abstract
This study examines the relationship between cost management practices and strategic
decision making in the banking sector, Survey design was used in the study and data were 'generated by means of questionnaire to sixty management staff of two selected banks in Lagos. Three hypotheses were formulated and tested using the chi- square method of analysis,The results of the study indicate that cost management practices are employed in strategic decision making: cost-drivers are a major consideration in cost management systems; and that a relationship exists between cost management practices and strategic decision making. The implications of the study include the need for banks seeking
leadership positions to realize the importance of taking out costs and investing the
savings in strategic progams that will help them bring product to the market more
quickly interact with customers more effectively and gain competitive advantage, It is
recommended that banks must continually revisit cost governance and instill a culture
focused on cost management.
Description
Staff Publication
Keywords
Cost Management Practices , Strategic Decision Making
Citation
Kuye,O.I.,& Uadiale,O.M. (2011) Cost Management Practices and Strategic Decision Making in the, Nigerian Banking Sector. Unilag Journal of Business.Vol.1,(3),p.211-224.