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.
ABSTRACT
Social media has been a major force in technology. Its impacts and use has exceeded the conventional purpose to...
THE IMPACT OF BUDGETING ON ORGANIZATIONAL SUSTAINABILITY
The objectives of this research are to: (1) analyze the impact of budgeting on o...
Abstract
This study examined the socio – economic and technological system of modern business and how they affect...
Abstract
The study examined effect of pricing strategy on sales performance, a study of Unilever Nigeri...
ABSTRACT
Used crankcase oil is disposed off indiscriminately and it eventually finds its way into the aquatic environment resulting in su...
STATEMENT OF THE PROBLEM
Political class continue to arm the youths, employ them to commit heinous crimes, shed blood at...
ABSTRACT
There is increasing recognition of the importance of early environmental exposures in the deve...
ABSTRACT
This study examined the nature of agroforestry practices in the FCT, as an alternative to the conventional cropping systems. Thi...
ABSTRACT
Radio is one of the means to get information across the length and breadth of the society beca...
ABSTRACT
The study investigated the impact of non-oil exports on Nigerian economy during the period of 1986-2010. This study was carried...