THE ROLE AND IMPORTANCE OF STRATEGIC BUDGETING FOR COMPETITIVENESS OF THE AGRIBUSINESS SUPPLY CHAIN
DOI:
https://doi.org/10.5937/ekoPolj1601295SKeywords:
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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References
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2. Bachev, H. (2011): Dairy Supply Chain Management in Bulgaria, The IUP Journal of Supply Chain Management, IUP Publications, Vol. 8, No. 2, pp. 39- 61, Hyderabad.
3. Bazley, M., Hancock, P., Berry, A., Jarvis, R. (1999): Contemporary Accounting: A Conceptual Approach (ISBN 0 17 0094960). Nelson Thomson Learning, South Melbourne.
4. Blumentritt, T., (2006): Integrating strategic management and budgeting, Journal of Business Strategy, Emerald Group Publishing Limited, Vol. 27, No. 6, pp. 73- 79, Bingley.
5. Boehlje, M., Roucan-Kaneb, M., Bröring, S. (2011): Future Agribusiness Challenges, International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, Vol. 14, No. 5, pp. 53-82, Washington.
6. Camillus, J. (1986): Strategic Planning and Management Control: Systems for Survival and Success,.(ISBN 0-669-10315-2). Maxwell Macmillan Canada, Inc. Ontario.
7. Dressler, S. (2004): Strategy, Organization and Performance Management – from basics to best practices, (ISBN: 1-58112-532-1). Universal Publishers, Boca Raton.
8. Drury, C. (2008): Management and Cost Accounting (ISBN 978-1-84480-566- 2). South Western Cengage Learning, London.
9. Ghosh, A., Das, S., Deshpande, A. (2014): Effect of Responsiveness and Process Integration in Supply Chain Coordination, The IUP Journal of Supply Chain Management, IUP Publications, Vol. 11, No. 1, pp. 7-17, Hyderabad.
10. Golsby-Smith T. (2011): Is your budgeting process killing your strategy?, available at: https://hbr.org/2011/01/is-your-budgeting-process-kill, accessed: 14.02.2015.
11. Ivanov, D., Sokolov, B. (2010): Adaptive Supply Chain Management (e-ISBN 978-1-84882-952-7). Springer, Chemnitz.
12. Janjić, V. (2011): Bihejvioristički aspekti procesa budžetiranja u preduzeću, Računovodstvo, Savez računovođa i revizora Srbije, No. 1-2, pp. 57-67, Beograd.
13. Kurien G., Quereshi M. (2011): Study of performance measurement practices in supply chain management, International Journal of Management and Social Sciences, SPEAK Foundation, Vol. 2, No. 4, pp. 19-34, Shahdara.
14. Lindgreen, A., Hingley, M. (2010): Market Orientation: Transforming Food and Agribusiness Around the Customer (ISBN 978-0-566-09208-4). Glower Publishing Limited, Surrey.
15. Malinić, S., Janković, M. (2011): Integrisano upravljanje troškovima u lancu distribucije: strategijski pristup i upravljačko-računovodstvena podrška, Računovodstvo, Savez računovođa i revizora Srbije, No. 7-8, pp. 11-24, Beograd.
16. Mowen, M., Hansen, D., Heitger, D. (2014): Cornerstones of Managerial Accounting (ISBN 978-1-305-10396-2), Cengage Learning, Boston.
17. Ramachandran, R. (2012): The Strategic CFO and Supply Chain Planning: Moving Beyond Numbers, WIPRO Applying Though, available at: https://www.google.rs/?gws_rd=cr,ssl&ei=8YqaVZzrOIHmsAGgk4QI#q=The+Strategic+CFO+and+Supply+Chain+Planning, accessed: 19.03.2015.
18. Rivera, J., Milani, K. (2011): Budgeting for International Operations> Impact on and Integration with Strategic Planning, Management Accounting Quarterly, Institute of Management Accounting, Vol. 12, No. 4, pp. 1-13, Montvale.
19. Rockel, J., Willems, S., Bosche, D. (2002): To Stimulate Cross-Border Trade in Developing Countries and Emerging Economics, World Bank Paper, available at: http://wwwwds.worldbank.org/external/default/WDSContentServer/W D S P / I B / 2 0 0 5 / 0 4 / 0 5 / 0 0 0 0 9 0 3 4 1 _ 2 0 0 5 0 4 0 5 1 4 2 2 2 2 / R e n d e r e d /PDF/318960AgriSupply0Chain0Mgmt.pdf, accessed: 21.02.2015.
20. Ross, D. (2011): Introduction to Supply Chain Management Technologies (ISBN 13: 978-1-4398-3753-5). Taylor and Francis Group, LLC, Boca Raton.
21. Seppala, T., Kenney, M., Ali-Yrkko, I. (2014): Supply Chain Management: An International Journal, Emerald Group Publishing Limited, Vol. 19, No. 4, pp. 445-454, Bingley.
22. Stevanović, N., Malinić, D., Milićević, V. (2008): Upravljačko računovodstvo (ISBN: 978-86-403-0266-3)., CID, Ekonomski fakultet, Beograd.
23. Taylor, A., Rafai S. (2003): Strategic Budgeting A Case Study and Proposed Framework, Management Accounting Quarterly, Institute of Management Accounting, Vol. 5, No. 1, pp. 1-10, Montvale.
24. Toit, E., Hopkins, A., Oosthuizen, Qual-Enoo, A., Smith, C. (2007): Cost and Management Accounting: Fresh Perspectives (ISBN 978 186891 5361). Pearson, Cape.
25. Tompkins, J., Harmelink, D. (2004): The Supply Chain Handbook, (ISBN 1-930426-03-8). Tompkins Press, Orlando.
26. Vasiljević, Z., Savić, B. (2013): Knowledge as a source of competitive advantage of the agricultural enterprises, Thematic Proceedings "Sustainable Agriculture and Rural Development in Terms of the Republic of Serbia Strategic Goals Realization within the Danube Region–Achieving Regional Competitiveness", December 5-7th 2013, Topola - Serbia, Institute of Agricultural Economics, Belgrade, Serbia, pp. 816-832.
27. Visner, P. (2010): Linking Supply Chain Performance to a Firms Financial Performance, p. 19, part 6, Beyonce the Basic: The Integrated supply chain. available at: http://www.scmr.com/article/linking_supply_chain_performance_to_a_frms_fnancial_performance, accessed: 27.02.2015.
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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. Ekonomika Poljoprivrede, 63(1), 295–312. https://doi.org/10.5937/ekoPolj1601295S
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