The Using Suppurisa-dhamma (qualities of a good man) and Strategic Cost Management Tools on Competitive Advantage and Performance of Companies in Industrial Estates in Thailand

Abstract

Research using mixed methods – both qualitative and quantitative research methods - is conducted on the impact of strategic cost management tools on competitive advantage and operating results in industrial estates in Thailand. These methods aid in exploratory and confirmatory questions, which will lend reliability and credibility to the research results. The study shows consistent results for the qualitative research. Trade competition necessitates that most businesses adjust their structure and production models, as well as their management, to be flexible according to market conditions, thus resulting in the introduction of new cost management concepts to develop applicable principles and strategic cost management. Strategic management tools used as cost tools and the principle of Suppurisa-dhamma (qualities of a good man)  or virtue of the righteous in integrated management of companies in industrial estates in Thailand. These tools provide executives with both primary and secondary information on their operations, which assist them in deciding whether or not their organization can gain a competitive advantage over the competition. Administrators will focus on both the external and internal environments, adapting management concepts to align with new production costs and current market conditions. Administrators will use accurate data and appropriate cost analysis for planning. Decision tools facilitate development from older, traditional management systems towards modern strategic cost management systems able to adapt quickly and efficiently