Effect of employing value engineering as a target costing tool in achieving competitive advantage

Abstract

The contemporary business environment needs to reconsider the traditional methods of costs, as it needs to apply contemporary methods and techniques to measure, define and display data related to costs and in proportion to the modern technological requirements and the intense competition factors that have become an inherent feature of the markets, so the economic units must work on the application of contemporary technologies Which contribute to reducing costs, managing, measuring and allocating them more accurately and justice As the technological development and the business environment are in constant change, and the economic units must keep pace with these developments by adopting techniques that go along with them in order to achieve competitive advantages that help the unit to ensure survival in the competitive market. In economic units, it can be formulated by the following question ( Does the application of value engineering contribute to reaching the target cost and achieving competitive advantages to enhance the position of the economic unit in the competition environment ) , and the research aims to clarify the role of value engineering