THE SIGNIFICANCE OF TARGETED COST APPROACH IN JORDANIAN COMMERCIAL BANKS: A CASE STUDY FROM KARAK GOVERNORATE
Authors: Omar F. Al-Abdulla, Leila A. Mansour
Published: May 2024
Abstract
<p>fabric of modern societies. This transformation has been catalyzed by the emergence of novel banking services distinct from traditional offerings, coupled with the widespread adoption of advanced information systems. In response, banks are engaged in a fervent race to implement cost-effective strategies that streamline their operations and enhance customer satisfaction. This study unfolds against the backdrop of a burgeoning banking sector in Jordan, characterized by intensified competition among its players. This competition fuels the drive to enhance and expand services for customers, safeguard existing market shares, and capture new market segments to optimize profitability while minimizing costs. The crux of the matter lies in managing costs effectively to uphold competitive advantage and ensure customer satisfaction. The focus of this research is on the Targeted Cost Method, a pivotal tool for cost control, grounded in customers' ability to pay. This study investigates whether public banks in Jordan have adopted the Targeted Cost Method and examines its awareness and application in the context of public banks in the region.</p>
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