Target costing as a strategic cost management tool and a survey on its implementation in the Turkish furniture industry

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dc.authorid0000-0002-1435-3910en_US
dc.contributor.authorCelayir, Duygu
dc.date.accessioned2021-02-10T12:14:34Z
dc.date.available2021-02-10T12:14:34Z
dc.date.issued2020en_US
dc.departmentFakülteler, İşletme Fakültesi, Muhasebe ve Denetim Bölümüen_US
dc.description.abstractPurpose – Target Costing is implemented in product design and development phases, and hence aims at cost reduction at the first stage of the life-cycle. This method is primarily intended to enable enterprises to seize their desired profit margin on top of the product cost and determine a price that corresponds to what customers are willing to pay. This purpose of this study is to examine the target costing method and attempts to determine the extent to which it is implemented in the Turkish furniture industry. Design/methodology/approach – This study examines the extent to which target costing is implemented at the enterprises affiliated with the Turkish Furniture Industrialists’ Association and the competencies related with the implementation principles of target costing. It therefore determines the extent to which target costing is implemented in the Turkish furniture industry. The enterprises within this study are selected from furniture industry. So Turkish Furniture Industrialists’ Association is selected because of reflecting furniture companies the best. Findings – Majority of the enterprises implementing target costing stated it helped address customer requirements and reduce costs. They will be able to utilize the method as a significant tool for competitive advantage if they follow target costing principles more diligently. Enterprises not implementing it, on the other hand, are observed to be internally following the principles of the method in general terms. Its implementation will be successful if the senior management assumes an active role for its organization-wide ownership. Discussion – The findings obtained from the study are of great importance for the enterprises which want to calculate the unit costs related to the products correctly. But, majority of the enterprises in the furniture industry are observed to be employing traditional cost management systems in setting the selling price. Enterprises should leave traditional methods behind and opt for the methods of target costing including market research to provide products at the selling price that is desired by the customers.en_US
dc.identifier.doi10.20491/isarder.2020.913en_US
dc.identifier.endpage1321en_US
dc.identifier.issue2en_US
dc.identifier.startpage1308en_US
dc.identifier.trdizinid378124en_US
dc.identifier.urihttps://hdl.handle.net/11467/4702
dc.identifier.urihttps://doi.org/10.20491/isarder.2020.913
dc.identifier.volume12en_US
dc.indekslendigikaynakTR-Dizinen_US
dc.language.isoenen_US
dc.publisherİsarderen_US
dc.relation.ispartofİşletme Araştırmaları Dergisien_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectStrategic cost managementen_US
dc.subjectTarget Costingen_US
dc.subjectFurniture Industryen_US
dc.titleTarget costing as a strategic cost management tool and a survey on its implementation in the Turkish furniture industryen_US
dc.typeArticleen_US

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