Volume 11 - Volume 11
Cost Management Strategy as a Determining Factor of the Corporate Business Quality in the COVID-19 Pandemic Context
Abstract
This article examines the importance of managing the costs of modern corporate structures at a
strategic level, in the context of the specific crisis caused by the COVID-19 coronavirus pandemic. The
strategic cost management system is considered as a complex tool for improving the efficiency of the
corporate structure. We made the analysis of this system from three positions: the concept of the value
chain, the concept of strategic positioning, the concept of factor analysis. We introduced a new notion
of “business quality” which is applicable to modern corporate structures at the strategic level. The
notion is characterized by two main approaches: from the point of view of internal mechanisms of
corporate governance (an objective approach based on obtaining comprehensive information) and
from the point of view of external mechanisms (a subjective approach based on the attitude of external
stakeholders to the value of corporate securities).
Paper Details
PaperID: 2393
Author's Name: Dong Zhao, Sergey A. Orekhov, Vladimir V. Velikorossov, Roman V. Glazov and Anzor U. Soltakhanov
Volume: Volume 11
Issues: Volume 11
Keywords: Corporation, Corporate Governance, Strategic Cost Management System, Business Quality, Economic Crisis, COVID-19 Pandemic.
Year: 2021
Month: July
Pages: 3573-3587