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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
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    References listed on IDEAS

    as
    1. Daniel R. A. Schallmo & Christopher A. Williams, 2018. "Digital Transformation Now!," SpringerBriefs in Business, Springer, number 978-3-319-72844-5, January.
    2. 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.
    Full references (including those not matched with items on IDEAS)

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    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

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