THE ROLE AND IMPORTANCE OF STRATEGIC BUDGETING FOR COMPETITIVENESS OF THE AGRIBUSINESS SUPPLY CHAIN

Authors

  • Bojan Savi?, Ph.D. University of Belgrade, Faculty of Agriculture
  • Zorica Vasiljevi?, Ph.D. University of Belgrade, Faculty of Agriculture
  • Nikola Popovi?, M.Sc. University of Belgrade, Faculty of Agriculture

DOI:

https://doi.org/10.5937/ekoPolj1601295S

Keywords:

management accounting, strategic budget, supply chain, agribusiness sector, competitiveness.

Abstract

Rapid challenges and changes that are an integral part of the business environment require from the enterprises to plan carefully their business, as well as to assess the probability of occurrence and outcome of future events. The importance of this approach is even more evident in the feld of agribusiness, which is characterized by the increasingly unfavorable business conditions along with numerous specifcities and limitations typical for agricultural activity. It is primarily about the growing business costs on one side and disproportionate changes in the level of agricultural products selling prices on the other one. The enterprises form a supply chain in order to reduce risk and uncertainty, to realize the production of high-quality products at competitive prices, to maintain and increase the market share. The realization of such complex goals requires an adequate approach to the budgeting process. The aim of the paper is to highlight the importance, achievements and challenges of budgeting as an instrument of management accounting and strategic budget in order to support management in their efforts of acquiring and improving the competitiveness of the entire supply chain.

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Published

2016-01-31

How to Cite

Savić, B., Vasiljević, Z., & Popović, N. (2016). THE ROLE AND IMPORTANCE OF STRATEGIC BUDGETING FOR COMPETITIVENESS OF THE AGRIBUSINESS SUPPLY CHAIN. Economics of Agriculture, 63(1), 295–312. https://doi.org/10.5937/ekoPolj1601295S

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