Examining employes perceptions of the relationship between cost management strategies and financial sustainability at Southdown Estate.

Abstract

The relationship between cost management strategies and financial sustainability has garnered significant attention in recent years, driven by the need for organizations to maintain financial stability in an increasingly complex and dynamic economic environment. The aims of the study were to investigate the current cost management practices and financial sustainability status of Southdown Estate, to analyze the relationship between effective cost management practices and financial sustainability at Southdown Estate, to assess the challenges associated with implementing cost management strategies at Southdown Estate and to propose strategies for effective implementation of cost management strategies at Southdown Estate. The researcher used a mixed research approach and a pragmatism research philosophy. The research used the researcher used Stratified Proportionate Random Sampling to select a subset of 74 participants from the total target population of 200 at Southdown Estates in Chipinge. Primary data were collected using participant interviews and questionnaires. The study revealed that Southdown Estate introduces an operational set up of formalized cost management processes in budgeting, financial reporting and variance analysis. The study revealed that there is a strong correlation between financial sustainability and cost management practices. The study revealed that organizational, behavioral and informational issues on the implementation of cost control in Southdown Estate hindered the success of the financial control framework. The study concluded that there is a positive relationship between cost management strategies and financial sustainability at Southdown Estate. The study also concluded that Southdown Estate introduces an operational set up of formalized cost management processes in budgeting, financial reporting and variance analysis. The study also concluded that organizational, behavioral and informational issues on the implementation of cost control in Southdown Estate hindered the success of the financial control framework. The study recommended that the government should offer training programs to companies to enhance their comprehension and execution of cost management practices.