COST REDUCTION STRATEGIES AND THE PERFORMANCE OF CHAMPION BREWERIES PLC, UYO AKWA IBOM STATE

COST REDUCTION STRATEGIES AND THE PERFORMANCE OF CHAMPION BREWERIES PLC, UYO AKWA IBOM STATE

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  • Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
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ABSTRACT

Businesses uses profit as a criteria for the measurement of performance and for efficient allocation of scarce resources. Management in view to increase sales volume, increase production and consequently leading to an increase in cost. This study was carried out to examine the influence of cost reduction strategies on the performance of Champion Breweries Plc, Uyo, Akwa Ibom State. This study is set to achieve the following objectives: to find out the cost reduction strategies adopted in Champion Breweries PLC., Uyo, to ascertain the extent of the application of cost reduction strategies in Champion Breweries PLC, to access the extent to which the company’s performance has improved through these strategies and to find out the major challenges encountered in the use of these strategies. To achieve these objectives, four research questions and one research hypothesis was formulated to guide this study. The data was collected from both primary and secondary sources. The primary data were collected using a structured questionnaire administered to the Staff and management of Champion Breweries Plc, Uyo while the secondary data were obtained from the company’s financial statement from 2002 to 2016. The data collected were analyzed using simple percentages and Ordinary Least Square (OLS) to test research hypothesis. It was revealed that there is a significant relationship between the mechanism of cost reduction strategies and the performance of Champion Breweries PLC Uyo, Akwa Ibom State. The study concluded with some recommendation that, steps should be taken by management to facilitate the timely collection and processing of cost Accounting data for the purpose of analysis and to overcome the problems encountered in the use of costing techniques, the management should introduce some level of flexibility into the system to allow for a dynamic system that will be in line with the current trends of costing techniques.

TABLE OF CONTENTS

Title page-       -           -           -           -           -           -           -           -           -           i

Declaration-    -           -           -           -           -           -           -           -           -           ii

Certification-   -           -           -           -           -           -           -           -           -           iii

Dedication-     -           -           -           -           -           -           -           -           -           iv

Acknowledgement-    -           -           -           -           -           -           -           -           v

Abstract-         -           -           -           -           -           -           -           -           -           vi

Table of contents-       -           -           -           -           -           -           -           -           vii

List of tables-  -           -           -           -           -           -           -           -           -           xi

List of Figures-           -           -           -           -           -           -           -           -         xiv

CHAPTER ONE: INTRODUCTION

1.1       Background to the study-       -           -           -           -           -           -           1

1.2       Statement of the problem-      -           -           -           -           -           -           3

1.3       Objective of the study-           -           -           -           -           -           -           4

1.4       Research Question-     -           -           -           -           -           -           -           5

1.5       Research hypothesis-              -           -           -           -           -           -           6

1.6       Significance of the study-       -           -           -           -           -           -           6

1.7       Scope and limitation of the study-    -           -           -           -           -           6

1.8       Definition of terms-    -           -           -           -           -           -           -           7

1.9       Historical Background-          -           -           -           -           -           -           8

CHAPTER TWO: REVIEW OF LITERATURE

2.1       Introduction-   -           -           -           -           -           -           -           -           10

2.2       Conceptual Review-   -           -           -           -           -           -           -           10

2.2.1    The Concept of Cost Reduction-        -           -           -           -           -           11

2.2.2    Cost Reduction Techniques-   -           -           -           -           -           -           13

2.2. 3   Fundamental Aspects of Cost Reduction-     -           -           -           -           24

2.2.4    Scope and Limitation of Cost Reduction-      -           -           -           -           28

2.2.5    Characteristics of a Manufacturing Industry- `-          -           -           -           29

2.2.6    Measures to set Cost Reduction Campaign-   -           -           -           -           30

2.2.7    Cost Reduction and Cost avoidance actions-             -           -           -           31

2.2.8    Components of production cost-        -           -           -           -           -           32

2.2.9    Actions on the manufacturing cost-    -           -           -           -           -           35

2.2.10  Cost Reduction Committee-   -           -           -           -           -           -           36

2.2.11  limitations of Cost Reduction-           -           -           -           -           -           38  

2.3       Theoretical review-     -           -           -           -           -           -           -           38

2.3.1    Resource-Based Theory-         -           -           -           -           -           -           39

2.3.2    Contingency Based Theory    -           -           -           -           -           -           40

2.3.3    Transaction Cost Theory         -           -           -           -           -           -           41

2.4       Empirical Review        -           -           -           -           -           -           -           45

CHAPTER THREE: RESEARCH METHODOLOGY

3.1       Introduction    -           -           -           -           -           -           -           -           50

3.2       Research Design         -           -           -           -           -           -           -           50

3.3       Population of the Study          -           -           -           -           -           -           50

3.4       Sampling and sampling Techniques    -           -           -           -           -           51

3.5       Method and Sources of Data  -           -           -           -           -           -           52

3.6       Design and Administration of Instrument     -           -           -           -           52

3.7       Validity and Reliability of the Instrument     -           -           -           -           52

3.8       Variables Description and Model Specification        -           -           -           53

3.9       Data Analysis Techniques       -           -           -           -           -           -           54

CHAPTER FOUR: PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

4.1       Introduction    -           -           -           -           -           -           -           -           55

4.2       Data Presentation         -           -           -           -           -           -           -           55

4.2.2    Financial Statement of Champion Breweries Plc       -           -           -           56

4.3       Analysis Of responses -           -           -           -           -           -           -           59

4.4       Testing of Hypothesis -           -           -           -           -           -           -           86

4.5       Discussion of findings            -           -           -           -           -           -           88

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1       Introduction    -           -           -           -           -           -           -           -           89

5.2       Summary of findings  -           -           -           -           -           -           -           89

5.3       Conclusion      -           -           -           -           -           -           -           -           90

5.4       Recommendations      -           -           -           -           -           -           -           90

References

Appendix

LIST OF TABLES

Table 2.1.2F: Tabular analysis on Linear Programming-       -           -           -           20

Table 4.2.1: Administration of Questionnaire           -


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