Page 5 - Cost

Chairman's Communiqué

It gives me an immense pleasure to present before you this new e- Magazine of the Institute on
“Cost Competitiveness”. It comprises of some case studies, interview of some eminent persons
and a few innovative ideas related to Cost Competitiveness.

Having the lowest costs is not a guarantee of market success. We see Cost Competitiveness as
a level of operation that allows an organization to go on winning sales at a price that generates
a sufcient level of return both for stakeholders and for the investment needs of the business.
Cost Competitiveness should not overlook quality of the product or service ofered just for the
sake of competition. Rather, it should aim at elimination of wasteful elements in the process and
maintenance of performance.

Te Institute of Cost Accountants of India is the only recognized statutory professional
organization and licensing body in India specializing exclusively in Cost and Management
Accountancy. ‘Cost’ is our forte. So we are presenting this issue with the aim to share innovative
ideas and strengthen our knowledge base which would be highly benefcial for our members
and society at large. Its versatility and accessibility would overpass the gap between Industry
and Government. Tis magazine would be benefcial for accelerating socio-economic growth
through Cost Competitiveness.

I would like to express my heartfelt thanks to my fellow members of the Research, Innovation
and Journal Committee, the eminent contributors and the entire research team of the Institute
for their sincere efort and support to publish this bulletin in time.

I am sure the readers will fnd the e-Magazine efective and would love to go through it and I also
request them to put forward their valuable suggestion towards improvement of this e-Magazine
in due course.

CMA Manas Kumar Takur
Chairman, Research, Innovation & Journal Committee
Te Institute of Cost Accountants of India