Translate this page

an evaluation of cost reduction technique in achieving profitabil...

An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc)



This research project material is available: An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc)



Download Complete Research Project Material on An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc)



Project Category:
Type: Project Topics | Project Topics and Materials | List of Project Topics | Research Project Materials | Journals | Thesis | Articles | Online Project Materials | Business Plan | Final year project topic| Format: Ms Word| Attribute: Documentation Only| Pages: 75 Pages| Chapters: Complete Research work from Chapter 1 to 5; All chapters | Price: ₦ 5,000.00



Call or whatsapp: +2347063298784 or email: allprojectmaterials.com

Download Post (MsWord)


Download Post (PDF)


Download complete Chapters



An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc)



ABSTRACT

This research work is aimed at An Evaluation of cost Reduction Techniques in Achieving Profitability in an Inflated Economy with particular reference to Nigerian Breweries plc, this work examined the following: To find out how effective, the resources of Nigerian Breweries PLC are being utilized to improve profitability. To know if cost reduction schemes are being applied in the industry. To find out the specific strategies adopted, the level of application and the specific areas where they are being administered their evaluation. To ascertain whether there is systematized cost reduction schemes/programme under the personnel and or accounting department. An Evaluation of cost Reduction Techniques in Achieving Profitability in an Inflated Economy. These are the areas that the researcher concentrated on while carrying out this research work. The first chapter is the introductory part of the research work. This chapter also contains the background of the study, statement of problems, research Question etc. Data for the study was sourced from two main sources which include Primary and Secondary sources of data collection. Primary data: Questionnaires and oral interviews were used to collect information from the respondents. Secondary data: Journals, magazines and other relevant materials relating to the area of my investigation will be reviewed. An extensive literature review was carried out on direct literature and indirect literature on books, journals and past works. The research instrument used in this study includes oral interviews and questionnaires. The questionnaire is structured to contain both close and open-ended questions. Simple tables, pie charts and percentages were used in the treatment of data while chi-square was used in the research work. Based on the findings, conclusions were drawn and recommendations were also made in the last chapter of this work which is the fifth chapter.

 

TABLE OF CONTENT

Title page i

Certification ii

Approval page iii

Dedication iv

Acknowledgement v

Abstract viii

Table of content ix

CHAPTER ONE

1.0 Introduction

1.1 Background of Study 1

1.2 Statement of the Problems 5

1.3 Objectives f the Study 8

1.4 Significance of Study 9

1.5 Scope and Limitation of Study 11

1.6 Operational Definition of Terms 17

Reference 20

CHAPTER TWO

2.0 Review of Related Literature 20

2.1 Cost 21

2.2 Concept and Definition of Cost Reduction 21

2.3 Inflation and Profitability 24

2.4 Difference Between Cost Reduction and Cost

Control 26

2.5 The Production Department 34

2.5.1 The Purchasing Department 39

2.5.2 The Sales Department 40

2.5.3 Personnel and Administration Department 41

2.6 The Planning Reduction 44

2.7 Cost Reduction Analysis 48

2.8 Cost Reduction Techniques 51

2.9 Break-Even Analysis 51

2.9.1 ABC Analysis 63

2.10 Absenteeism Control 64

2.11 Factors that Influence Profitability 66

2.12 Role of Profit in Business 67

CHAPTER THREE

3.1 Populations Collection 71

3.2 Test of Hypothesis 75

3.3 Analysis of Questionnaire 78

3.4 Method of Data Collection 82

3.5 Primary Data 85

3.6 Secondary Data 85

CHAPTER FOUR

Presentation, Analysis and Interpretation of Data 88

CHAPTER FIVE

Summary of Findings, Conclusion, and Recommendations

5.1 Summary of Findings 99

5.2 Conclusion 102

5.3 Recommendations 104

Bibliography 106

Appendices 108

 

CHAPTER ONE

INTRODUCTION

For a business to succeed, knowledge of certain management, techniques is ver necessary.

Mastering the techniques that can help one to achieve the basic objectives of building up a business and making it profitable.

 

1.1 BACKGROUND OF THE STUDY

All production aims to satisfy peoples wants, however in carrying out this production, certain costs are incurred to achieve the stated organisational objective be it to satisfy peoples wants according to Hanson J. L to maximize profit. For any business to achieve its set objective there have to be adequate, strong and effective cost reduction measures (formal or informal) that should be adopted.

 

The effectiveness of these measures however may have heaped some of these companies to remain in business irrespective of the hash condition like inflation among others.

 

 

 

 

 

Many Nigerian business establishments presently, especially the manufacturing sectors are in a serious profit squeeze. Several factors account for this into ward condition which includes, the increasing cost of running a business in Nigeria, drastic fall in the Nigerian foreign exchange market did not help matters. The situation is further aggravated by triple-digit inflation present in our (Nigeria) economy. The structural adjustment programme, ban on importation of certain basic raw materials, payment of long excise duties have caused some companies either to have closed indefinitely or produced at a high cost, thereby making even the local goods high and sale volume low.

 

All have resulted in poor profit margin payout, retrenchment, compulsory leave and retirement with or without benefit which invariably affects the company as well.

 

Firms, therefore, are struggling to maintain satisfactory pay-off where costs are used and o price increase becoming more and difficult to sustain. To maintain earnings in the face of these conditions, there is the need for these companies to decide about cost maintenance culture, increase productivity to enhance profitability and diversification into a completely new market area.

In addition to these, it will enhance the competitive ability and generate a reasonable profit margin for survival, growth and expansion of the business.

 

It is the view that most industries do not have approved they exist, are not well organized.

This analysis, therefore, is designed to explore the various strategies and evaluate them and is well open to manufacturing firms in reduction system can go a long way at improving profitability and overcoming inflation.

 

 

 

It is appropriate therefore to say that the identification of these problems of some industries and the solution to them will not only improve the profitability of its operations but also helps largely towards the improvement of the Nigerian economy.

 

This work, therefore, is assumed to be of some benefits to manufacturing firms and help them improve further than returns on investment and improve the Nigerian economy generally.

 

1.2 STATEMENT OF PROBLEM

The firms are in business to make a profit. It does this by producing and selling some commodities.

 

Essentially, every activity whether productive or not consumes resources. According to Lipsey (2009) “there are insufficient productive resources in the world to produce the number of goods and services that would be required to satisfy every one want”. The scarcity of these productive resources eg (human and material) made it imperative that there should be a product and judicious use of them.

 

Most firms in Nigeria are faced with rising costs of production and low contribution margin.

 

Small firms, in particular, have peculiar problems and are easily swept off their feet by conditions that other companies could accommodate.

 

Factors that can disrupt the profitability of Nigerian Breweries Plc in this economy of hyperinflation includes:

 

I Inadequate capital structure

 

ii Inadequate to enjoy economies of purchase

 

iii Tiny market sharer losing their market share

 

iv Higher cost of research and development.

 

Having considered the above factors, certain questions needed to be answered include:

 

1. Is there any possible means of installing a cost reduction system to eliminate the avoidable cost and or waste and enhance Nigeria Breweries Plc’s profitability.

 

 

 

2. Do this firm have any cost reduction scheme or programme and if present, how effective and efficient are they? Are they producing the desired result?

 

3. Can the cost per unit of production of a given product be realized without affecting h quality and usefulness of the product.

 

4. Are the firm resources being fully utilized or are some of them lying idle and thus going to waste.

 

5. How, out of the various alternatives do we employ our limited resources to produce these assortments as efficiently as possible.

 

6. In a manufacturing setup, what specific area requires a reduction in cost and what level of cost reduction is required in a given cost level.

 

1.3 OBJECTIVES OF THE STUDY

Having identified these problems above, and the operational environment surrounding the company, which the researcher is aimed at solving, the following is what this study is aimed at achieving:

 

– To find out how effective, the resources of Nigerian Breweries PLC are being utilized to improve profitability.

 

– To know if cost reduction schemes are being applied in the industry.

 

– To find out the specific strategies adopted, the level of application and the specific areas where they are being administered their evaluation.

 

– To ascertain whether there is a systematized cost reduction scheme/programme under the personnel and or accounting department.

 

– To know if certain specific cost reduction techniques applied in one industry will still achieve some result elsewhere.

 

– To offer suggestions on the specific cost reduction techniques to the company under review as well as assist where firms including the low ones.

Citation - Reference

All Project Materials Inc. (2020). An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc). Available at: https://researchcub.info/department/paper-8893.html. [Accessed: ].

An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc)


Delivery Assurance: This Project material is delivered within 15-30 Minutes. Click below to download complete material.


Download Complete Project Material

Call: +2347063298784

Hire a Writer

Department

Search Word Tags:


A Review on an evaluation of cost reduction technique in achieving profitability in an inflated economy (a case study of nigerian breweries plc), cost, reduction, this, research journals and thesis, researchcub.info, accounting project topics.
This research work is aimed at An Evaluation of cost Reduction Techniques in Achieving Profitability in an Inflated Economy with particular reference to Nigerian Breweries plc, this work examined the following: To find out how effective, the resources of Nigerian Breweries PLC are being utilized to improve profitability. To know if cost reduction schemes are being applied in the industry. To find out the specific strategies adopted, the level of application and the specific areas where they are being administered their evaluation. To ascertain whether there is systematized cost reduction schemes/programme under the personnel and or accounting department. An Evaluation of cost Reduction Techniques in Achieving Profitability in an Inflated Economy. These are the areas that the researcher concentrated on while carrying out this research work. The first chapter is the introductory part of the research work. This chapter also contains the background of the study, statement of problems, research Question etc. Data for the study was sourced from two main sources which include Primary and Secondary sources of data collection. Primary data: Questionnaires and oral interviews were used to collect information from the respondents. Secondary data: Journals, magazines and other relevant materials relating to the area of my investigation will be reviewed. An extensive literature review was carried out on direct literature and indirect literature on books, journals and past works. The resea.. Click here for more

An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc) - Research Journals and Thesis - Researchcub.info

Excellent and Professional research project topics, ideas and materials Website - researchcub.info

Undergraduate Project Topics, economics project topics, marketing project topics, business administration project topics, engineering project topics, computer science project topics, banking & finance project topics, education project topics, law project topics, sciences project topics, public administration project topics, political science project topics, mathematics project topics, medical science project topics, mass communication project topics, research projects, geology project topics, marketing project topics, agriculture project topics, Browse Thousands of Final Year Project Topics, hire a writer, Research Works and Materials, Project topics and materials in Nigeria, Undergraduate Project Topics, Research Works and Materials, research topics, research project materials, complete project materials, computer science project material, free project topics, complete projects, accounting topics, small business topics, entrepreneurship topics, project materials, Nigerian undergraduate projects, business administration projects, computer science topics and projects, MBA Nigerian project topics, human resources, small businesses, entrepreneurship projects, economics projects, impacts projects, effect projects, university projects, polytechnic projects, investigate projects, political science projects, mass communication projects, project topics, human resource projects, education projects, French topics, project analysis, French projects, project tips, project abstract, project proposals, project bibliography, project reference, project seminar, forex, TSA, treasury single account, currency, naira, devaluation, undergraduate projects, final project research, marketing project topics, statistics project topics, mathematics project topics, statistics, mathematics, research projects, project thesis, labour force theses, NCE, OND, HND, BTECH, BSC, MBA, MSC, English projects, linguistic project topics, Free Project topics and materials in Nigeria, research topics, reseach project materials, computer science project material, free, complete, accounting topics, small business topics, materials, nigeria projects, business administration projects, computer science topics and projects, MBA nigeria project topics, human resources, small business, entrepreneurship projects, economics projects, impact projects, effects projects, training, budgets, ghana, university, polytechnic, browse Free project materials and topics in Nigeria, accounting and finance project materials, business administration project materials and topics, human resources, entrepreneurship, computer science and engineering project materials and topics, Accounting project topics, Accounting project topics and materials, Agricultural Economics Project Topics and Materials, Agricultural Science Projects topics and materials, All Project topics and materials, Architecture Project topics and materials, Aviation project topics and materials, Banking & Finance Projects topics and materials, Biology project and materials, Building project topics and materials, Business Administration & Management Projects topics and materials, Chemical Engineering Project Topics and materials, Civil Engineering Projects topics and materials, Communication & mass communication art project topics and materials, Computer Engineering Project Topics and materials, Computer Science Projects topics and materials, Criminology project topics and materials, Economics Research Projects topics and materials, Education Project Topics and Materials, Electrical Engineering Projects and materials, English Education & English Language Project topics and materials, Food Science project topics and materials, Geology Project Topics and materials, Guidance Counseling Project Topics and materials, History project topics and materials, Home Economics Project Topics and Materials, Human Resource Projects topics and Materials, Industrial Chemistry Projects topics and materials, Insurance Projects topics and materials, Law project topics and materials, Library and information science project topics and materials, Marine and Transport management project topics and materials, Marketing Projects topics and materials, Mathematics project topics and materials, Medical Sciences Project Topics and materials, Microbiology project topics and materials, Nursing and Midwifery project topics, Nursing and Midwifery project topics and materials, Optometry or nursing project topics and materials, Petroleum Engineering project topics and materials, Pharmacy project topics and materials, Philosophy project topics and materials, Photography project topics and materials, Physical and Health Education project topics and materials, Physiology project topics and materials, Political science project topics and materials, Project topics and materials, Psychology project topics and materials, Random project, Religious and Cultural Studies Project Topics and Materials, Sociology and Anthropology Project topics and materials, Sociology Project Topics and materials, Tourism project topics and materials, Vocational education project topics and materials An Evaluation of Cost Reduction Technique in Achieving Profitability in an Inflated Economy (A Case Study of Nigerian Breweries Plc)-cost- reduction- this- Research Journals and Thesis | Researchcub.info