Question Answer

What are the changes in the An increase in global competition, advances in manufacturing technologies, advances in information
business environment? technologies and e-commerce, the greater focus on the customers, new forms of management and
organization, changes in social, political, and cultural environment.

What are the factors contributing to Advances in manufacturing technologies, advances in information technologies and e-commerce.
an increase in global competition?

What technological advancements Advances in manufacturing technologies and advances in information technologies and e-commerce.
have impacted the business
environment?

What is the impact of the internet It has brought about advances in information technologies and e-commerce.
and e-commerce on the business
environment?

What is the current focus in The greater focus on the customers.

business on regarding customers?

What are the new forms of New forms of management and organization.
management and organization
seen in the contemporary business
environment?

How has the social, political, and There have been changes in the social, political, and cultural environment.
cultural environment changed in
the business context?

What is the impact of an increase It becomes very competitive and firms need cost management information to sustain competitiveness.
in global competition on the
business environment?

What is the reason behind firms To remain competitive in the face of increased global competition.
adopting new manufacturing
technologies?

What are some of the changes in Adoption of methods applied in some Japanese manufacturing firms.
the business environment related
to manufacturing technologies?

What has resulted in the growing Advances in information technologies and e-commerce.
focus in cost management?

How have advances in information By reducing the time required to process transactions and expanding access to information.
technologies and e-commerce
impacted cost management?

What is the effect of these Expanding access to information.

technologies on an individual's
access to information within the
firm, industry, and business
environment?

What is the focus of the Measuring various attributes of customer value.

management accounting system in
the changing business
environment?

What are the strategic positions Cost Leadership and Cost Differentiation.
that business firms apply?

What is required for the successful Understanding of a firm’s value chain and supply chain.
pursuit of cost leadership and/or
differentiation strategies?

What does the term 'Value Chain' The full product or process life cycle.
refer to?

What does the term 'Supply Chain' The network of all the companies and people involved in the production and delivery of the product.
refer to?

What is changing in cost Cost management practices are changing, including different reports that are useful to functional managers.
management practices?

What type of information was Financial data.

almost exclusively recorded and
reported in the prior business
environment?
Question Answer

In the contemporary business Financial and operating data, the firm's strategic success factors.
environment, what type of data is
recorded along with financial data?

What was the organizational Hierarchical, command and control.

structure like in the prior business
environment?

What type of organization forms Network-based organization forms, teamwork focus.

and focus is observed in the
contemporary business
environment?

In the prior business environment, Emphasis on the short term.

what was the emphasis on?

What is the emphasis on in the Emphasis on the long term.

contemporary business
environment?

What was the basis of Standardization, economies of scale.

compensation in manufacturing in
the prior business environment?

What is the basis of compensation Quality, functionality, and customer satisfaction.

in manufacturing in the
contemporary business
environment?

Describe the manufacturing High volume, long production runs, significant levels of in-process and finished inventory.
process in the prior business
environment.

Describe the manufacturing Low volume, short production runs, focused on reducing inventory levels.
process in the contemporary
business environment.

What are the characteristics of the Assembly line automation, isolated technology application.
prior business environment in
terms of manufacturing
technology?

What are the characteristics of the Robotics, Flexible manufacturing systems, integrated technology applications connected by networks.
contemporary business
environment in terms of
manufacturing technology?

What were the required labor skills Machine-paced, low level skills.
in the prior business environment?

What are the required labor skills in Individual and team paced, high level skills.
the contemporary business
environment?

What was the emphasis on quality Acceptance of a normal or usual amount of waste.
in the prior business environment?

What is the emphasis on quality in Goal of zero defects.

the contemporary business
environment?

What were the characteristics of Relatively few variants, long product life cycle.
the products in the prior business
environment?

What are the characteristics of the Large number of variations, short product life cycle.
products in the contemporary
business environment?

What were the characteristics of Largely domestic.

the markets in the prior business
environment?

What are the characteristics of the Global.

Question Answer

markets in the contemporary

business environment?

What does the changes in the Flexible and adaptable.

social, political and cultural
environment of the business
require firms to be?

What does the changes in the A more highly skilled workplace.

social, political and cultural
environment place greater
responsibility in the hands of?

What should Cost Management Identification of critical measures for the firm's success.
focus on?

What should be considered in the Cost management systems are basic transaction reporting systems, focus on external financial reporting, and
phases of development of cost track key operating data to develop more accurate cost information for decision making.
management systems?

What is the focus of Stage 1 in the Basic transaction reporting systems.

development of cost management
systems?

What does Stage 2 of cost External financial reporting.

management systems focus on?

What is the primary focus of Stage Tracking key operating data and developing more accurate and relevant cost information.
3 in the development of cost
management systems?

What is the significance of Stage 4 Strategically relevant cost management information becomes an integral part of the system.
in the development of cost
management systems?

What are critical success factors in Measures of those aspects of the firm’s performance essential to its competitive advantage.
strategic cost management?

When should the internal The internal accounting system should be changed when it no longer meets the needs of the organization,
accounting system be changed? when there are changes in business operations, or when there are changes in regulations or accounting
standards.

What are the topics covered in the Technological Innovation, Market Conditions, The Determinants of Business Strategy, Organizational Structure,
course 'Strategic Cost Firm Value, Decision Rights Partitioning, Separation of decision management from decision control,
Management' at Manila Business Centralization/Decentralization, Performance system evaluation, Accounting System, Non-Financial System,
College? Performance reward and punishment, Compensation policy, Promotion policy.

What are the determinants of Asset Structure, Customer Based.

business strategy according to the
course at Manila Business
College?

What does the course at Manila Incentives and Actions.

Business College cover under the
topic of Organizational Structure?

Who is the instructor for the Ms. Jiebeth G. Bueno.

Strategic Cost Management course
at Manila Business College?