Berber, Nemanja and Gajić, Tamara (2011) Analysis of the economy in function of cost management in hotel enterprise. In: The 5th International Scientific Conference "Entrepreneurship and Macroeconomic Management: Reflections on the World in Turmoil".
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Permanent changes in the external market, strengthening of the competition, the impact of economic crisis and the like may prevent the successful realization of the process of reproduction in the company. In response to the challenges of the market, management should design certain internal strategies to preserve or improve the market position of the company. As the economic crisis with all its negative effects has already strongly affected financial and manufacturing sector, managers have the task to find the field to make changes within the company. As a business opportunity and a chance for survival in conditions of crisis, there is the cost management. Within this area, which many authors define as a focused action toward lowering costs and achieving greater business profits, measuring of the dynamic of economy can be successfully applied with the developed analytical instrument. Analysis of the economy, as the relationship between realized returns and resources expended, is very important because, on the basis of the results, business decisions can be made that managers would try to use to direct the company towards achieving outlined objectives. This paper presents the basic elements of cost - effectiveness analysis at a hotel company, measuring the dynamics of economy and how decisions are made on the basis of the results of this analysis.
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