Factors influencing effective cost management within South Africa’s retail banking sector

Today, organisations are faced with drastic economic challenges which include, the global financial crisis, credit crunch, globalisation and increased competitive forces. As market share shrinks, organisations strive to find new customers, and increase its bottom line, by adequately managing costs. The objective of cost management practices is to ensure that organisations have a true understanding of costs, so that it can continuously make the right decisions with regards to product mix, price and market. This research uses a qualitative methodology to uncover how the South African banks currently use costing principles. This is achieved through semi-structured long interviews with individuals, who are directly responsible for this function within their respective organisation. <p.The conclusion offers a conceptual cost management framework, which is made up of a number of key models to assist an organisation mature in their cost management practices. It is evident from this research that the banks in South Africa are relatively immature; therefore, they require a focus on efficient and effective cost management practises. Copyright

Grantor dc:publisher

University of Pretoria

Year dc:date.issued

2010

Advisor dc:contributor.advisor

• Pieterse, Thea

• UCTD
• Cost management
• Strategy
• Activity based costing
• Banking

Statement dc:rights

• © 2010, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretori

Dc Identifier Other

F11/242/ag

OAI identifier oai:identifier

oai:repository.up.ac.za:2263/24703