IDEAS home Printed from https://ideas.repec.org/a/ris/utmsje/0329.html
   My bibliography  Save this article

THE CHALLENGES OF COST CONTROL DURING THE COVID-19 PANDEMIC ON THE EXAMPLE OF THE COMPANY PRO KOLEKT d.o.o

Author

Listed:
  • Sopta Ćorić, Martina

    (Faculty of Economics and Business University of Zagreb)

  • Rotter, Dino

    (Faculty of Economics and Business University of Zagreb)

  • Rajkovic, Irijana

    (Faculty of Tourism and Hospitality Management Opatija, University of Rijeka, Croatia)

Abstract

The aim of the thesis Challenges of cost management during the COVID-19 pandemic on the example of the company Pro kolekt d.o.o. is to present an analysis of the report, focusing on cost management in the observed time period in 2019 and 2020. The analysis is focused on the current crisis caused by the virus pandemic that greatly affected the company’s operations and sought rapid adjustment of cost management to keep the company going in the new crisis. The subject of the thesis is to present the application of cost management theory in a crisis situation. The paper provides a detailed insight into the importance of timely response of managers in a crisis situation in which the company finds itself in order to preserve its business and survive in the market in the new conditions. In the first part, a theoretical framework for managing the operating costs of a modern company in the financial industry is set. Afterwards, crisis cost management is presented, with a look at the current crisis caused by the pandemic. In the last part, the analysis refers to the financial sustainability of the company's operations in the observed period, with proposals and other options for setting strategic plans and goals of the company in the future.

Suggested Citation

  • Sopta Ćorić, Martina & Rotter, Dino & Rajkovic, Irijana, 2022. "THE CHALLENGES OF COST CONTROL DURING THE COVID-19 PANDEMIC ON THE EXAMPLE OF THE COMPANY PRO KOLEKT d.o.o," UTMS Journal of Economics, University of Tourism and Management, Skopje, Macedonia, vol. 13(1), pages 129-154.
    • Handle: RePEc:ris:utmsje:0329
    as

    Download full text from publisher

    File URL: https://utmsjoe.mk/files/Vol.13.No.1/9.THE-CHALLENGES-OF-COST-CONTROL-DURING-THE-COVID-19-PANDEMIC-ON-THE-EXAMPLE-OF-THE-COMPANY-PRO-KOLEKT-d.o.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Zhu Wang, 2006. "Learning, diffusion and the industry life cycle," Payments System Research Working Paper PSR WP 04-01, Federal Reserve Bank of Kansas City.
    2. Daniel R. A. Schallmo & Christopher A. Williams, 2018. "Digital Transformation Now!," SpringerBriefs in Business, Springer, number 978-3-319-72844-5, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ander, Veronika & Cihelka, Petr & Tyrychtr, Jan & Novák, David, 2022. "Towards Compromise User Experience Design in Ambient Intelligent Environment," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    2. Fatih Gurcan & Gizem Dilan Boztas & Gonca Gokce Menekse Dalveren & Mohammad Derawi, 2023. "Digital Transformation Strategies, Practices, and Trends: A Large-Scale Retrospective Study Based on Machine Learning," Sustainability, MDPI, vol. 15(9), pages 1-23, May.
    3. Richard J. Sullivan & Zhu Wang, 2005. "Internet banking: an exploration in technology diffusion and impact," Payments System Research Working Paper PSR WP 05-05, Federal Reserve Bank of Kansas City.
    4. Valentin Niță & Ioana Guțu, 2023. "The Role of Leadership and Digital Transformation in Higher Education Students’ Work Engagement," IJERPH, MDPI, vol. 20(6), pages 1-32, March.
    5. Jochen Fähndrich, 2023. "A literature review on the impact of digitalisation on management control," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 34(1), pages 9-65, March.
    6. Horii, Ryo, 2012. "Wants and past knowledge: Growth cycles with emerging industries," Journal of Economic Dynamics and Control, Elsevier, vol. 36(2), pages 220-238.
    7. Zhu Wang, 2007. "Technological Innovation and Market Turbulence: The Dot-com Experience," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(1), pages 78-105, January.
    8. James J. McAndrews & Zhu Wang, 2006. "Microfoundations of two-sided markets: the payment card example," Payments System Research Working Paper PSR WP 06-01, Federal Reserve Bank of Kansas City.
    9. Sodamin, Dino & Vaněk, Jiří & Ulman, Miloš & Šimek, Pavel, 2022. "Fair Label versus Blockchain Technology from the Consumer Perspective: Towards a Comprehensive Research Agenda," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    10. Matthias Fabian Gregersen Trischler & Jason Li-Ying, 2023. "Digital business model innovation: toward construct clarity and future research directions," Review of Managerial Science, Springer, vol. 17(1), pages 3-32, January.
    11. Daniel Schallmo & Christopher A. Williams & Jochen Lohse, 2019. "Digital Strategy — Integrated Approach And Generic Options," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 23(08), pages 1-24, December.
    12. Maniriho, Aristide & Musabanganji, Edouard & Mulumeoderhwa, Fidèle & Manirakiza, Dismas & Lebailly, Philippe, 2022. "Preferences of Small-Scale Farmers for Innovative Farming Techniques in Volcanic Highlands in Rwanda," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    13. Michał Goliński, 2019. "Measuring the digital economy in the European Union research," Collegium of Economic Analysis Annals, Warsaw School of Economics, Collegium of Economic Analysis, issue 54, pages 155-170.
    14. Isabelle Biclesanu & Sorin Anagnoste & Ovidiu Branga & Marco Savastano, 2021. "Digital Entrepreneurship: Public Perception of Barriers, Drivers, and Future," Administrative Sciences, MDPI, vol. 11(4), pages 1-11, November.
    15. Shaibu, Abdul-Fatawu & Shaibu, Mohammed Hardi, 2022. "Agricultural Aid and Growth in Sub Saharan Africa: a Review of Empirical Evidence," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    16. Tatiana Corejova & Roman Chinoracky, 2021. "Assessing the Potential for Digital Transformation," Sustainability, MDPI, vol. 13(19), pages 1-15, October.
    17. Rosita Capurro & Raffaele Fiorentino & Rubina Michela Galeotti & Stefano Garzella, 2023. "The Impact of Digitalization and Sustainability on Governance Structures and Corporate Communication: A Cross-Industry and Cross-Country Approach," Sustainability, MDPI, vol. 15(3), pages 1-27, January.
    18. Sheedy, Elizabeth & Zhang, Le & Tam, Kenny Chi Ho, 2019. "Incentives and culture in risk compliance," Journal of Banking & Finance, Elsevier, vol. 107(C), pages 1-1.
    19. Fertő, Imre & Bojnec, Štefan & Podruzsik, Szilárd, 2022. "Do Subsidies Decrease the Farm Income Inequality in Hungary?," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    20. Ahmed Amro & Vasileios Gkioulos & Sokratis Katsikas, 2023. "Communication architecture for autonomous passenger ship," Journal of Risk and Reliability, , vol. 237(2), pages 459-484, April.

    More about this item

    Keywords

    Pro collection; cost management; crisis; pandemic; covid-19;
    All these keywords.

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • Z32 - Other Special Topics - - Tourism Economics - - - Tourism and Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:utmsje:0329. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Assistant Professor. Dejan Nakovski, PhD (email available below). General contact details of provider: https://edirc.repec.org/data/feutmmk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.