Cost Culture Through Cost Maturity Model
Companies traditionally approach value creation through one of two ways--increasing revenues or decreasing costs. Organizations are primarily focused on one of these levers in order to create value at any given point in time. Creating a cost culture through the cost management maturity model provides a way to overcome this value creation paradox. Accelerating revenue growth while maintaining low costs is a matter of organizational and cost management maturity. Successful organizations have been able to create a pervasive culture in which cost management is perceived as a continuous process.
Balachandran, Bala and Sudhakar Balachandran. 2005. Cost Culture Through Cost Maturity Model. Journal of Cost Management. 19: 15-27.