ORGANIZATIONAL RESTRUCTURING AS A WAY TO RESOLVE THE CRISIS CAUSED BY COVID 19, IN AGRICULTURAL SECTOR
DOI:
https://doi.org/10.5937/ekoPolj2103611CKeywords:
Business crisis, organizational restructuring, pandemic, agricultural sector, digitalization.Abstract
The crisis, as a negative deviation that is serious and can jeopardize the company's business usually doesn't occur suddenly but gradually in individual areas, accumulating its effects. The crisis caused by the pandemic came suddenly and immediately caused a disruption of economic activities, without the possibility to predict and prevent it. It hit the agricultural sector with great intensity. The analysis of the business entities in agricultural sector in Serbia has shown that these entities suffered great damage and that it is necessary to take restructuring measures as soon as possible, primarily organizational ones. The results of the research showed that the crisis caused by COVID 19, mainly affected the entire long chain of participants in agriculture. Government measures, which included providing financial support and subsidies, are certainly welcome but not sufficient. The authors concluded that it is therefore necessary for companies to implement restructuring measures in order to ensure a speedy recovery.
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2. Cico. S., (2018): Company growth cause and / or consequence of corporate restructuring, Accounting, Journal of Accounting, Auditing and Business Finance, Year LXI No. 1-2, Belgrade p. 220 – 231.
3. Cico, S., Munikravić, M., (2017) Periodic financial reporting in the function of business decision-making of companies in restructuring, Accounting, Journal of Accounting, Auditing and Business Finance, Year LXI no.1 Belgrade, p 67-78.
4. Erić, D., Stošič, I. (2013) Corporate Restructuring, Institute of Economic Sciences, Belgrade Banking Academy, Belgrade.
5. European Commission, Brussels, 9.12.2020, COM (2020) 789 final, Strategy for Sustainable and Smart Mobility - Driving European Transport for the Future, http://ec.europa.eu/transport/sites/transport/files/legislation/com20200789-annex.pdf
6. Handy, C., (1995) Understanding Organizations 4th edition London&New York, Penguin Books.
7. Herber, J., Singh, J.V. and Useem, M. (2000) The Design of New Organization Forms, in "Whorton on Managing Emerging Technologies" Whorton Press.
8. Hörcher, D., Singh, R., & Graham, D. J. (2020). Social Distancing in Public Transport: Mobilising New Technologies for Demand Management under the COVID-19 Crisis, Transportation letters, London.
9. Informant no. 114 Traffic System of Serbia, (2020) Business Association Srbijatransport, Beograd.
10. Crisis Management - A Handbook for Committees (2010), International Finance Corporation.
11. Lymbersky, C., (2013) International Turnaround Management Standard, Version 1.1. Hamburg, MLP Management Labaratory Press UG.
12. Malinić, S., (2002) Basics of accounting management, Faculty of Economics, Kragujevac.
13. Coronavirus Disease (COVID-2019) Situation Reports; World Health Organazation: Geneva, Switzerland, 2020, https://www.who.int/emergencies/ diseases/novel-coronavirus-2019/situation-reports
14. Probst, T. (2003). Exploring Employee Outcomes of Organizational Restructuring: A Solomon Four-Group Study, Group & Organizational Management, 28 (3).
15. Rajnović, Lj., Cico, S., (2019) Reorganization plan prepared in advance as a way to solve the liquidity of the company, Institute of Agricultural Economics, Belgrade.
16. Rajnović, Lj., Subić, J., Zakić, N., (2016) Organizational and financial restructuring of companies in the function of improving the economic environment in the Republic of Serbia, Institute of Agricultural Economics, Belgrade.
17. Rajnović, Lj., Snežana, C., Zoran, B., (2020), Restitution of Agricultural Land in Serbia - Comparative Legal Aspects, Agricultural Economics, Publishers: Scientific Society of Agrarian Economists of the Balkans, Belgrade, Institute of Agricultural Economics, Belgrade, Academy of Economic Sciences, Bucharest, Romania, p.p. 1355-1366, doi: 10-5937/ekoPolj2004353R.
18. Rajnovic, Lj., Brljak, Z., Cico, S., (2021) Position of holders of right to return land in the procedure of restitution and lessee of land, Sustainable agriculture and rural development, Publisher: Institute of Agricultural Economics, Belgrade, p. 171 -183.
19. United Nations, World Economic Situation and Prospects (2020), Retrieved from: https://www.un.org/development/desa/dpad/wp- content/uploads/sites/45/ publication/WESP2020_FullReport_web.pdf
20. World Economic Outlook: The Great Lockdown, (2020), IMF https://www.imf.org/en/Publications//WEO/Issues/2020/04/14/weo-april-2020
21. Warner, M., Witzel. M., (2004), Managing In Virtual Organizations, Thomson, London.
22. https://ssrn.com/abstract=3713518 or http://dx.doi.org/10.2139/ssrn.3713518
23. http://ec.europa.eu/transport/sites/transport/files/legislation/com20200789 -annex.pdf
24. https://www.un.org/millenniumgoals/bkgd.shtml
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Published
2021-09-24
How to Cite
Cico, S., Rajnović, L. D., & Bošnjak, I. (2021). ORGANIZATIONAL RESTRUCTURING AS A WAY TO RESOLVE THE CRISIS CAUSED BY COVID 19, IN AGRICULTURAL SECTOR. Economics of Agriculture, 68(3), 611–625. https://doi.org/10.5937/ekoPolj2103611C
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Original scientific papers
