AN EXAMINATION OF COST MANAGEMENT TECHNIQUES IN THE HOSPITALITY SECTOR
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: Available
- Recommended for : Student Researchers
- NGN 5000
Abstract: AN EXAMINATION OF COST MANAGEMENT TECHNIQUES IN THE HOSPITALITY SECTOR
This research examines various cost management techniques within the hospitality sector in Abuja. The study's objectives are to identify the most effective cost management techniques, assess their impact on financial performance, and evaluate the challenges faced during implementation. A survey design was employed, gathering data from 250 financial managers and cost accountants, derived using Taro Yamane's formula. A case study of a major hotel in Abuja provided detailed insights. The reliability coefficient score was 0.86. Findings indicate that effective cost management techniques, such as activity-based costing and lean management, significantly enhance financial performance by reducing waste and improving efficiency. However, challenges such as resistance to change and high implementation costs were noted. Recommendations include providing more training for financial managers, simplifying cost management processes, and integrating cost management techniques with overall business strategies to ensure comprehensive financial performance.
Related Project Materials
An examination of debit fee structure revisions on improving transactional transparency in banking: a case study of United Bank for Africa
Background of the Study
Transparency in financial transactions is a cornerstone of modern banking, essential for building t...
The Impact of Financial Training on Principals’ Administrative Efficiency in Secondary Schools in Ondo State
Background of the Study
Effective financial management is crucial for the success of s...
A CRITICAL SURVEY OF TASK SIZE AND ITS EFFECT ON SECONDARY SCHOOL STUDENTS’ ACHIEVEMENT IN BIOLOGY
Background of The Study
Education is connected to an individual's well-being and chances for improv...
Assessing the Impact of Digital Media on Consumer Rights Advocacy in Offa Local Government Area, Kwara State
Chapter One: Introduction
DESIGN AND IMPLEMENTATION OF WEB BASED TIME TABLE SYSTEM FOR COMPUTER SCIENCE DEPARTMENT
PROBLEM DEFINITION
The scheduling problem can be defined as a problem of finding the optimal sequence for evaluating a f...
An Evaluation of the Attitudes of Nursing Students Towards Community Health Nursing in Ondo State University of Medical Sciences
Background of the Study
Community health nursing (CHN) is a key component of nursing education and practice that focuses on promoting hea...
An Appraisal of the Relationship Between Diet and Mental Health Among Psychiatric Patients: A Case Study of Neuropsychiatric Hospital, Abeokuta, Ogun State
Background of the Study
The relationship between diet and mental health has become a p...
An Investigation of Public Knowledge on the Health Risks of Consuming Unpasteurized Dairy Products in Yobe State
Background of the Study
Unpasteurized dairy products, often consumed for their perce...
An Investigation of the Impact of Community Nursing in Reducing Tuberculosis Prevalence in Borno State
Background of the Study
Tuberculosis (TB) remains one of the leading causes of morbidity and mortality worldwide, particularly in develop...
The Role of Tax Policy Reforms in Enhancing Revenue Generation in Nigeria: A Case Study of the Finance Act 2020
Background of the Study
Tax policy reforms are a critical component of public finance...
