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 3000
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
CAUSES AND PREVENTION OF DANGERS IN THE AREA OF FOOD PREPARATION
BACKGROUND OF THE STUDY
Occupational dangers pose a significant threat to an active workforce. Fricidences such as back...
ASSESSMENT OF INNOVATIONS IN VOCATIONAL TRAINING FOR CAREERS IN RENEWABLE ENERGY ENGINEERING
ABSTRACT: Innovations in vocational training for careers in renewable energy engineering are essential for developing a workforce capable of m...
EFFECT OF COLLABORATIVE TEACHING METHOD ON ACADEMIC ACHIEVEMENT OF SECONDARY SCHOOL STUDENTS IN FINANCIAL ACCOUNTING IN OYO STATE, NIGERIA
Background to the Study
Education is a vehicle which conveys people from unknown to known or from abstract to concrete...
THE PRESIDENTIAL AMNESTY PROGRAMME FOR PEACE BUILDING INITIATIVES IN THE NIGER DELTA REGION
Background of the Study
The Niger Delta is the major hub of the Nigerian economy, but continues...
The influence of conflict management effectiveness on administrative staff productivity in tertiary institutions.
Background to the study &...
POLYGAMY AND FAMILY SIZE AS A DETERMINANTS OF STUDENTS’ ACADEMIC PERFORMANCE IN SELECTED SECONDARY SCHOOLS
ABSTRACT
The study examines the effect of polygamy and large family size on students’ academic performance in sele...
THE CHALLENGES OF COST BENEFIT ANALYSIS IN A COMPUTERIZED ACCOUNTING SYSTEM
ABSTRACT
This research is on the challenges of cost benefit analysis in a computerized Accounting System. The purpose of this study is to...
IMPACT OF PROCESS-BASED INSTRUCTION ON ACQUISITION OF SCIENCE SKILLS, PERFORMANCE AND RETENTION AMONG BASIC SCIENCE STUDENTS
ABSTRACT
The persistent poor performance of students in the Junior Secondary School Certificate Examination by Basic Science students is...
THE ATTITUDE OF TEACHERS TOWARDS THE TEACHING OF SEX EDUCATION IN SELECTED SECONDARY SCHOOL
Abstract
The purpose of this study was to find out the attitude of teachers towards the teaching of sex educat...
BOTTLED WATER MANUFACTURING BUSINESS PLAN
Executive Summary
Demand for bottled drinking water has been growing rapidly since the 1990s, increasing nearly 400% in the last decade....
