Cost management with budgeting and Kaizen Costing
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Business units must constantly adapt to changing market conditions and consumer expectations. Introducing changes aimed at increasing the adaptability of an enterprise is often associated with high costs or radical changes in the structure of the company and the way it operates. This article discusses the budgeting and Kaizen philosophy and their impact on the management of the enterprise's cost area. Based on the case study, it was presented how the use of the budgeting procedure and Kaizen Costing can affect the unit's cost management process. The use of Kaizen in the area of enterprise cost management was also discussed. The aim of the article is to show how the decision to use budgeting and Kaizen in the area of costs can translate into the company's financial results and its overall functioning.
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