Abstract: increased competition and increased costs of
designing made it important for the firms to identify the right
products and the right methods for manufacturing the products. Firms
should focus on customers and identify customer demands directly to
design the right products. Several management methods and
techniques that are currently available improve one or more functions
or processes in an industry and do not take the complete product life
cycle into consideration. On the other hand target costing is a method
/ philosophy that takes financial, manufacturing and customer aspects
into consideration during designing phase and helps firms in making
product design decisions to increase the profit / value of the
company. It uses various techniques to identify customer demands, to
decrease costs of manufacturing and finally to achieve strategic goals.
Target Costing forms an integral part of total product design /
redesign based on strategic plans.
Abstract: This paper has presented research in progress
concerning the contribution of target costing approach to
achievement competitive price in the Iraqi firm. The title of the
paper is one of the subjects that get large concerns in the finance and
business world in the present time. That is because many competitive
firms have appeared in the regional and global markets and the rapid
changes that covered all fields of life. On the other hand, this paper
concentrated on lack knowledge of the industrial firms, regarding the
significant role of target cost for achieving the competitive prices.
The paper depends on the main supposition, using the competitive
price to get the target cost in the industrial firms. In order to achieve
competitive advantage in business world the firms should rely on
modern methods to manage cost and profit. From strategic
perspective the target cost achieves a so powerful competitive
advantage represented in cost reduction. Nevertheless the target cost
does not exclude the calculation and survey of costs during the
production process. Products- estimated costs are calculated and
compared with the target costs.
Abstract: This paper argues that a product development exercise
involves in addition to the conventional stages, several decisions
regarding other aspects. These aspects should be addressed
simultaneously in order to develop a product that responds to the
customer needs and that helps realize objectives of the stakeholders
in terms of profitability, market share and the like. We present a
framework that encompasses these different development
dimensions. The framework shows that a product development
methodology such as the Quality Function Deployment (QFD) is the
basic tool which allows definition of the target specifications of a
new product. Creativity is the first dimension that enables the
development exercise to live and end successfully. A number of
group processes need to be followed by the development team in
order to ensure enough creativity and innovation. Secondly,
packaging is considered to be an important extension of the product.
Branding strategies, quality and standardization requirements,
identification technologies, design technologies, production
technologies and costing and pricing are also integral parts to the
development exercise. These dimensions constitute the proposed
framework. The paper also presents a mathematical model used to
calculate the design targets based on the target costing principle. The
framework is used to study a case of a new product development in
the telecommunications services sector.