ROLE AND IMPORTANCE OF CONTROLLING IN BUSINESS

Abstract

Management of the companies has a primary responsibility to successfully overcome stated challenges of economy and doing business. In this respect, management of the companies needs additional information on environment in which business is being conducted. Also, management needs a qualitative business plan in order to overcome period of crisis. It is important for the management of the companies to have a promising forecast based on qualitative-quantitative economic-financial analysis and projection. Additionally, it is desirable for the management to have a spectrum of indicators and information related to the business processes within the company. In other words, regarding the aforementioned and similar issues, it is of crucial significance for the management of the companies to have competent bases that will be sufficiently functional to pass optimal business decisions and solutions. In this way efficiency and effectiveness of the business running system will be increased, thus creating assumptions to develop capabilities of faster and painless adjustment not only to the changes in dynamic and complex environment but also to the changes in the company. This business function is being performed by controlling for the needs of the management.

Management of companies feels greater and greater pressure emerging from the accelerated dynamics of the social, economic and political processes in the society. It is justified to expect from the management of the companies to create significantly different way of the future business running. Here question is being raised: does the management of the B&H companies possess sufficient knowledge and time to perform such lunge or do they need support, assistance and advising? Aforementioned especially actualize the theme and subject of controlling in conditions of Bosnia and Herzegovina’s economy. At the same time, all prior stated confirmed the actuality, attractiveness and necessity to apply controlling function in the specific public utility company (“Sarajevogas” doo Sarajevo).