Question Answer

What is the goal of developing a competitive To gain a competitive advantage in the market.
strategy?

What is the emphasis of the course regarding Contemporary cost management techniques.
cost management techniques?

What is a strategy? A plan of action designed to achieve a long-term or overall aim.

What is the purpose of cost management in To support strategic goals.

supporting strategic goals?

What type of information does a Strategic Cost Both financial and non-financial information.
Management system develop?

What are the financial performance measures Growth, sales, earnings, cash flows, stock price.
included in strategic cost management?

What is Strategic Cost Management? Strategic Cost Management involves the analysis and management of costs in a way that aligns
with the overall strategic goals and objectives of a business.

What are some non-financial measures in Market Share, Product Quality, Customer Satisfaction, Growth Opportunities.
strategic cost management?

What is Strategic Cost Management? Strategic Cost Management involves the analysis and management of costs in a way that aligns
with the overall strategic goals of the organization.

What is the focus of the course 'Strategic Cost Managing costs strategically for competitive advantage.
Management' at Manila Business College?

What is the main goal of Cost Leadership? To become the lowest-cost producer in the industry.

What is the primary objective of Product To create unique and desirable products or services.
Differentiation?

What is cost leadership? A competitive strategy in which a firm succeeds in producing products or services at the lowest
cost in the industry.

What is Product Differentiation in strategic cost Creating perception among consumers that the product or services is unique in some important
management? ways.

Who is the instructor for the course Strategic Ms. Jiebeth G. Bueno.
Cost Management at Manila Business College?

What is Contemporary Cost Management A technique in which management develops policies, and practices to ensure that the firm’s
Technique? products and services exceed customers' expectations.

Who is the instructor for the course on Strategic Ms. Jiebeth G. Bueno.
Cost Management at Manila Business College?

What is Just in Time (JIT) in strategic cost Activities undertaken only as needed and demanded.
management?

What is the alternative name for the Just in "Pull-it-through" approach.

Time (JIT) production system?

How are materials acquired and units produced Only as needed to meet actual customer demand.
in Just in Time (JIT) system?

What is Just-in-Time Production? A system in which each component on a production line is produced immediately as needed by the
next step in the production line.

Who is the instructor for the course on Strategic Ms. Jiebeth G. Bueno.
Cost Management at Manila Business College?

What is process reengineering? A process for creating competitive advantage by recognizing a firm's operating and management
function.

Who is the instructor for Strategic Cost Ms. Jiebeth G. Bueno.

Management at Manila Business College?

What is the name of the course? Strategic Cost Management.

Who is the instructor for the course? Ms. Jiebeth G. Bueno.

What is a more radical approach to Process Reengineering.

Question Answer

improvement than TQM?

What is benchmarking in strategic cost It is the process by which a firm determines its critical success factors and studies the best
management? practices of other firms.

What does benchmarking involve studying? The best practices of other firms.

What is the purpose of implementing To enhance performance and competitive advantage.

improvements in the firms in benchmarking?

Who determines the critical success factors in The firm itself.

benchmarking?

What is mass customization? It is a management technique in which marketing and production processes are designed to handle
the increased variety that results from delivering customized products and services to customers.

Who is the instructor for the course? Ms. Jiebeth G. Bueno.

What is the Balanced Scorecard? An accounting report that includes the firm’s critical success factors in four areas: Financial
Performance, Customer Satisfaction, Internal Business Process, Innovation and Learning.

What is activity analysis used for in strategic To develop a detailed description of the specific activities performed in the operations of the firm.
cost management?

What is ABC used for in cost analysis? To improve the accuracy of cost analysis by improving the tracing.

What is the name of the institution? Manila Business College.

Who is the instructor for Strategic Cost Ms. Jiebeth G. Bueno.

Management?

What is the focus of the course taught by Ms. Strategic Cost Management.
Jiebeth G. Bueno at Manila Business College?

Who is the instructor for Strategic Cost Ms. Jiebeth G. Bueno.

Management at Manila Business College?