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

Martina Sopta Ćorić, Dino Rotter and Irijana Rajkovic
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Martina Sopta Ćorić: Faculty of Economics and Business University of Zagreb
Dino Rotter: Faculty of Economics and Business University of Zagreb
Irijana Rajkovic: Faculty of Tourism and Hospitality Management Opatija, University of Rijeka, Croatia

UTMS Journal of Economics, 2022, vol. 13, issue 1, 129-154

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.

Keywords: Pro collection; cost management; crisis; pandemic; covid-19 (search for similar items in EconPapers)
JEL-codes: F01 Z32 (search for similar items in EconPapers)
Date: 2022
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