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Managing Costs for Profit: Part I—Business Objectives and Strategic Planning*

Published online by Cambridge University Press:  24 August 2017

P. A. Norman
P. A. Norman*
Affiliation:
Honeywell Controls Ltd, (now Rolls-Royce Ltd, Small Engine Division)
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Summary

This paper presents basic disciplines for effective management of costs for profitable operation in technologically orientated industries. The techniques outlined for strategic planning, implementation of the ensuing plan and for operational planning and control are not new, but available and proven by wide application in the USA and to a lesser extent in the UK.

The adoption of these or similar disciplines in the UK aerospace industry in co-operation with the Government in defining industry objectives and strategic plans, could represent a big step towards promoting a healthy and expanding industry for the future.

Application of these techniques will present difficulties in the aerospace industry, but by their very nature should yield an immense return in this environment. There would appear to be no insuperable difficulties in achieving successful application by both Government and Industry.

Since the 1967 Management Studies Group Symposium showed a strong demand for information on these techniques, and because no single source document can be recommended, the preparation of this survey has been undertaken.

Type
Research Article
Information
The Aeronautical Journal , Volume 72 , Issue 689 , May 1968 , pp. 423 - 430
Copyright
Copyright © Royal Aeronautical Society 1968 

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Footnotes

*

Part II of this paper will be published in the June 1968 Journal.

References

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