Научный доклад ID 1805 : 2019/3
FINANCIAL INSTRUMENTS FOR SUSTAINABLE DEVELOPMENT OF “BSR – CARGO FREIGHT” LTD
Svetla Tzvetkova, Ekaterina Savova
The liberalization of the railway cargo freight market has led to fierce competition and higher customer criteria regarding the quality of provided transport services. Despite the difficulties that Bulgaria’s primary state cargo forwarder, “BSR – Cargo Freights” Ltd., faces, it possesses indisputable energy and ecological advantages over other types of ground transport. The paper emphasizes the association’s capabilities for becoming more effective, achieving permanent stabilization and stable development through the implementation of good management practices and approaches, and putting an end to organizational inertia. The study suggests the integration of innovative financial tools, which will eliminate the current ineffective processes in the association’s activity. “Budget from Zero” is a method of budgeting where all costs have to be balanced in relation to the expected earnings for each studied period. In order to achieve better results in the elimination of ineffective processes, the “Budget by Activities” method can also be implemented in order to analyze the costs and cost-effectiveness of the products that the association offers. These two approaches are a radical alternative to the historical budget the association currently uses and are in conformity with the international standards for permanent improvement of the financial indicators and the association’s liquidity. The paper’s methodology observes the system approach and traditional research methods.
cargo freight sustainable development financial instrumentsтоварни превози устойчиво развитие финансови инструменти.Svetla Tzvetkova Ekaterina Savova
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