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中文3400字

本科毕业论文（设计）

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外文题目 Strategic Cost Management

外文出处 Financial Management,2010(2)：34-35

外文作者 Sophia Aluko，Jonathan Mayhall，Melanie

Wauquiez，Alan Vercio

原文：

Strategic Cost Management

Abstract:The value chain concept has been discussed in the strategy literature for more than a decade now. As a generic concept for organizing our thinking about strategic positioning, its significance is widely accepted. But empirical examples of the power of the concept for shaping cost analysis have not yet reached the literature. This paper reports a disguised field study in which a value chain is constructed. The insights for cost management which emerge are contrasted with those which are suggested by two traditional analysis techniques -- a 2x2 growth/share matrix and conventional cost analysis. The purpose of the paper is to extend our knowledge about how to construct and use value chains in managerial accounting. The authors believe the concept is powerful and deserves far more empirical study as a way to make the strategic perspective more explicit in managerial cost analysis.

"While accounting systems do contain useful data for cost analysis, they often get in the way of strategic cost analysis"

--Porter [1985,page 63]

One of the major themes in strategic cost management (SCM) concerns the focus of cost management efforts. Stated in question form: How do we organize our thinking about cost management? In the SCM framework, managing costs effectively requires a broad focus, external to the firm. Porter [1985] has called this the 'value chain." The "value chain" for any firm in any business is the linked set of value-creating activities all the way from basic raw material sources through to the ultimate end-use product delivered into the final consumers" hands. This focus is external to the firm, seeing each firm in the context of the overall chain of value-creating activities of which it is very probably only a part. We are aware of no firms which span the entire value chain in which they operate.

Though the value chain concept has been around for more than 10 years, the strategic power of this concept has not been well articulated. Based on an extensive literature search, we were not able to find even one complete empirically derived value chain for a firm. There is a clear need to begin to document real world examples of how the value chain framework provides strategic insights that are unlikely to emerge from other frameworks. We believe it is important to begin to bring this perspective into the domain of managerial accounting. This paper is an attempt to begin to fill this need.

STRATEGIC POWER OF THE VALUE CHAIN ANALYSIS--THE BASICS ：

Whether or not a firm can develop and sustain differentiation and/or cost advantage depends fundamentally on the configuration of its value chain relative to the value chain configuration of each of its competitors. We believe Porter [1985] is correct when he argues that competitive advantage in the marketplace ultimately derives from providing better customer value for equivalent cost or equivalent customer value for a lower cost. From this perspective, value chain analysis is essential to determine exactly where in the firm's segment of the chain--from design to distribution--customer value can be enhanced or costs lowered. As argued by Shank [ 1989], ignoring linkages upstream from the firm as well as downstream is just too restrictive a perspective.

Danger of Ignoring Value Chain Linkages ：

The value chain framework is a method for breaking down the chain of activities that runs from basic raw materials to end-use customers into strategically relevant segments in order to understand the behavior of costs and the sources of differentiation. As noted earlier, a firm is typically only a part of the larger set of activities in the value creation and delivery system. Since no two firms of which we are aware, even in the same industry, compete in exactly the same set of markets with exactly the same set of suppliers, the overall value chain for each firm is unique. Suppliers not only produce and deliver inputs used in a firm's value activities, but they importantly influence the firm's cost/differentiation position.

For example, developments by steel "mini-mills" lowered the operating costs of wire products users who are the customers of the customers of the mini mill -- 2 stages down the value chain. Similarly, customer's actions can have a significant impact on the firm's value activities. For example, when printing press manufacturers create a new press of "3 meters" width, the profitability of paper mills is affected, because paper machine widths must match some multiple of printing press width.As we will discuss more fully below, gaining and sustaining competitive advantage requires that a firm understand the entire value creation and delivery system, not Just the portion of the value chain in which it participates. Suppliers and customers and suppliers' suppliers and customers' customers have profit margins that are important to identify in understanding a firm's cost/differentiation positioning, since the end-use customers ultimately pay for all the profit margins along the entire value chain.

Value Chain Insights for Different Competitors:

If competitor A (the most fully integrated company in the exhibit) calculates the Return on Assets at each stage of the chain by adjusting all transfer prices to competitive market levels, it could highlight potential areas where the firm could more economically buy from the outside instead of "making" (strategic choice of make or buy). With a complete value chain, competitors B, C, D, E, F, and G might be able to identify possibilities to forward or backward integrate into areas which can enhance their performance. Westvaco, for example, recently stopped manufacturing envelope paper although it still owns a large envelope converter. Champion International, on the other hand, has sold its envelope converting business but still produces envelope paper. Both choices, although apparently inconsistent, could be plausible given the specific strategies of Westvaco and Champion.

Each value activity has a set of unique cost drivers that explain variations in costs in that activity [Shank, 1989]. Thus, each value activity has its unique sources of competitive advantage. Companies are likely to face a different set of competitors at each stage. Some of these competitors would be more fully integrated companies and some of them would be more narrowly focussed specialists.

Value Chain versus Value Added Analysis：

The value chain concept can be contrasted with the internal focus that is often adopted in management accounting. Management accounting, as explained in leading textbooks, usually takes a "value-added" perspective, starting with payments to suppliers (purchases), and stopping with charges to customers (sales). The key theme is to maximize the difference--the value-added--between purchases and sales, under the assumption that this is the only way a firm can influence profits. We argue that the value chain--not value added--is the more meaningful way to explore strategic issues. Value added analysis, in which the firm focuses only on its own operations in looking for profit enhancement opportunities, can be quite misleading in two ways:

The value-added concept starts too late. Starting cost analysis with purchases misses all the opportunities for exploiting linkages with the firm's suppliers. The word "exploit" does not imply that the relationship with the supplier is a zero sum game. Quite the contrary, it implies that the link should be managed so that both the firm and its supplier can benefit. For instance, when bulk chocolate began to be delivered in liquid form in tank cars instead of ten pound molded bars, an industrial chocolate firm (i.e 内容过长，仅展示头部和尾部部分文字预览，全文请查看图片预览。 使用他们的产品（服务）的顾客价值链增值。

结论：

我们认为,在本文讨论的价值链不仅仅是一个抽象概念工具，它可以成为一个强大的经验分析工具,尽管学术上实际价值链的例子还没有公布。本文提出了一种在涂布纸板箱业务价值链的首次尝试。传统的分析工具存在重大差异的价值链分析，在这种情况下产生的见解越来越多。我们从传统的管理会计和增长矩阵的角度看问题，做了与项目价值视角分析视角(通过缺陷分析)对比。在这种情况下的价值链分析有助于研究和验证更多传统分析出现的影响。从供应链的角度来拓展我们管理成本分析的能力是有意义的。

由于几乎没有***的竞争有完全相同的一套价值活动，价值链分析在***在同行业中如何被定位中是关键的第一步。建立可持续的竞争优势需要全部的***和它的竞争对手的相关知识。

一旦价值链被充分表达，重要的战略决策关于购买和前后集成将变得更加清晰……投资决策可以从他们对整体链和企业的影响的角度看。如今，成本分析不可以忽视这个关键层面——战略决策。作者希望本文将鼓励更多的广泛关注价值链的经验估计，以作为现代战略成本分析的有用扩展。

资料来源:财务管理,2010年第二期：P34-35。

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