Forestry together with the industry based on wood and non-wood forest products (NWFPs) represents an important activity and branch of the national economy. In accordance with that, the work is ...divided into two chapters, one of which analyzes wood, and the other of NWFPs. Therefore, the aim of the research is to examine the market trends and potential of forestry in the part of central Serbia (Central forest area). The purpose of the research is to identify trends in the categories of felling, production and sale of wood assortments of beech, oak and poplar and to analyses the commercial aspect and the way of organizing the marketing mix in companies that deal with the purchase, processing and placement of NWFPs. The Mann-Kendall test was used for the analysis of trends in wood products, while a survey was created for the analysis of companies in the field of NWFPs, which included 29 open and closed questions, with conceptual units related to the marketing mix. For the purposes of the research, primary and secondary data were used and the time period 2008-2017 was covered.
Background and Purpose: Capital budgeting is the process in which a business determines and evaluates potential large expenses or investments. These expenditures and investments include projects such ...as building a new plant or investing in a long-term venture. In the case of poplar plantations in Serbia, a prospective project's lifetime cash inflows and outflows can be assessed in order to determine whether generated potential returns meet a sufficient target benchmark, also known as "investment appraisal". The purpose of this study is to show relative profitability of alternative courses of action in poplar plantations.
Material and Methods: The investigated plantations were established from Populus x euramericana cl. I-214 on different soil types, situated in north-western part of Serbia, with planting spacing 6x3 m, differently aged, mainly for technical wood production. The data used in this study were collected from the management and materials books of the "Vojvodinašume" Public Forest Enterprise , which is the official owner of these stands. All of the plantations are state-owned. At the end the supply chain of poplar wood production is presented. Different capital budgeting techniques and different discount rates are employed to determine which types of poplar plantations, treated as separate projects, will or not will yield the most return over an applicable period of time.
Results and Conclusions: The financial effects for sample plot plantations were first evaluated with an external funder prerequisite of 12% discount rate, and continued with different investment appraisal discount rates. For the discount rate r=12%, all tested areas had a negative net present value (NPV). Average internal rate of return (IRR) is 5.63% and payback period is acceptable for the investor at 6% and less. The average benefit-cost analysis amount is 0.36 for all stands with a discount rate of r=12%.
The paper examines the role of distribution, as an instrument of the marketing mix, in companies dealing with the purchase, processing, and marketing of non-wood forest products (NWFPs) in the ...territory of Serbia. Considering the specificity of NWFPs, choosing appropriate sales channels for delivery to customers is of great importance. Primarily for perishable and unprocessed products, such as forest fruits (wild raspberries, blackberries, blueberries, etc.), but also different types of mushrooms (boletus, chanterelles), fast and effi?cient distribution channels are imperative in the context of product quality preservation. In this sense, the research included 49 companies from the territory of Serbia, which operate in the field of NWFPs. For the research, a questionnaire was created with 29 questions related to the marketing mix, and the organization of distribution flows in the analyzed companies. The period considered includes the period 2008-2017. The goal of the research was focused on the role of distribution in the analyzed companies, as well as the identification of factors that contribute to decisions regarding its forms and way of organization.
The paper presents the movement of sales of commercially important beech
assort?ments in the forest estate (FE) ?Juzni Kucaj? Despotovac.This
includes forms of sales through contracts made with ...buyers on an annual
basis, as well as through auctions conducted in this FE.On the other hand,
the processes and procedures that formally follow the sales of wood
assortments were analyzed.The data were collected through a questionnaire
sent to FE.The period considered was 2002 - 2016 for the sales of veneer and
peeling logs, as well as firewood.Selling by auction relates to 2016.In this
paper, the comparative method, method of analysis and synthesis and
description method were used in combination with other methods.Analysis of
the time series, through the analysis of the trend, was applied for the
movement of three types of timber assortments of beech: logs for veneer and
peeling, sawlogs and firewood.
Considering that companies in the sector of forestry and the related sector of wood processing exist in a dynamic and changing economic environment, the ability of fast adaptability to the emerging ...changes is a prerequisite for efficient and effective business. In that sense, a wholesome review of internal factors, as well as the external ones, is important for creating business strategies and achieving a better market and competitive positioning. In order to provide insight into the socio-economic characteristics and the market environment in which they operate, 32 companies from the field of forestry and wood processing in the central Serbia have been analysed. The goal of this research was to gain insight into the opinions and attitudes of the respondents from companies towards particular aspects of the market. The purpose of this research was to acknowledge and understand the market environment in which the analysed companies operate, and to define the recommendations for future management. The object of this research were companies in the field of forestry and wood processing, the opinions and reviews on raw material purchase, product placement, attitudes towards purchase procedures and so on.
U radu je provedena analiza poslovnog okruženja poduzeća iz područja šumarstva i prerade drva. Obuhvaćeno je 32 malih i srednjih poduzeća na području Republike Srbije. Za potrebe istraživanja kreiran je upitnik, koji je bio usmjeren na relevantne ispitanike unutar poduzeća. Cilj je bio da se ocijene određeni aspekti u poslovanju i identificira tržišno okruženje u kojemu posluju analizirana poduzeća. Za analizu su korišteni interni i eksterni čimbenici, kao što su opći podaci o poduzeću; oblici i načini nabave sirovine i prodaje gotovih proizvoda; mišljenja i stavovi ispitanika o određenim tržišnim faktorima; poslovna i buduća orijentacija poduzeća. Prema analiziranim poduzećima, najviše se kupuju vrste bukve (78,1%) i crnogorice (21,9%), a slijede klonovi topole i sortimenti hrasta s 18,8%. Asortiman proizvoda uključuje piljenu građu (37,5%), pelete (34,4%), namještaj (28,1%) i ploče (25%) koji se putem veleprodaje izvoze na inozemno tržište (87,5% tvrtki). Pedeset posto (50%) tvrtki prodaje proizvode na domaćem tržištu, a 87,5% na domaćem i inozemnom tržištu. Poslovni problemi koji su najviše identificirani su naplata (31,2%) i tržište (25%), dok je 15,6% navelo sirovine.Na osnovi SWOT analize, identificirani su interni i eksterni faktori, relevantni za provedbu poslovne aktivnosti poduzeća, dok je A’WOT analiza ukazala na preporučene smjerove za strateški razvoj poduzeća. Na temelju SWOT analize najvažnije snage su interakcija s kupcima kroz dobru poslovnu suradnju, poštivanje rokova i dugogodišnje radno iskustvo. Među slabostima je istaknuta ovisnost o dobavljačima sirovina, ograničenja u njihovoj opskrbi, kao i visoki troškovi poslovanja. Kao prilike ispitanici su istaknuli investiranje, orijentaciju prema inozemnim tržištima, proširenje proizvodnih kapaciteta, uvođenje novih proizvoda i sl. Prijetnje su nestabilnost u nabavi sirovina, utjecaj konkurencije, dugi rokovi naplate proizvoda i sl. Prema dobivenim rezultatima A’WOT analize, u odnosu na ostale elemente, najveću vrijednost imaju mogućnosti (0,363) koje se temelje na ulaganjima u objekte i tehnologiju, razvoju proizvodnih linija i proširenju kapaciteta, otvaranju novih tržišta uz poticanje izvozne orijentacije.
The paper analyzed business efficiency (productivity, economy and
profitability) and business indicators (liquidity, solvency and
indebtedness) of PE ?National park Kopaonik?. The goal of the ...research is to
identify their values, with the purpose of determining the situation and
recognizing opportunities for possible improvement of certain segments in
the business of the analyzed PE. The subject of the research is the
financial reports of PE ?National park Kopaonik?, and the data generated
from them, based on which indicators of business success were determined.
In the paper, through a case study of a company from the field of forestry,
an analysis of the product portfolio was carried out and the position of
each product was defined within the BCG ...(growth/share) matrix. As well as
that, based on the conducted SWOT analysis, the company?s strengths, and
weaknesses, as well as opportunities and threats from the envi?ronment, were
identified. The goal of the paper is to identify the best way to use
financial resources and define the need to introduce new products, in order
to assess the potential and market opportunities of the company ?Gradina
Sistem? d.o.o. from Temerin. The purpose of the work is to define directions
for (re)directing financial resources towards more sustainable and
profitable ones based on the established positions of individual products.
The subject of the research is the company ?Gradina Sistem? d.o.o. from
Temerin, its current business system and production portfolio, which is
mostly focused on: wooden flooring, pallets and crates made of poplar.
Due to the trends in the consumption of wood and particularly s oft
broadleaves, poplar cultivation gained importance in this country and
worldwide during the last decade of the twentieth century. ...Many countries,
primarily those with developed forestry (Canada, France, Italy, etc.), have
recognized the importance of poplar cultivation in terms of production,
economics and environmental protection. The aim of this study is to apply the
method of assessment and the method of calculating the optimal production
cycle length in order to determine the optimal production cycle length of
poplar plantations in the studied localities of Ravni Srem (FE ?Sremska
Mitrovica?) from an economic standpoint. The purpose of this research is to
provide guidelines for forestry practices aimed at the improvement of the
situation in the field of assessment of the optimal production cycle length
in poplar plantations. The research object a re: the number of trees, volume
of trees and other elements that will be quantified and numerically analyzed.
The initial hypothesis of the study was that the production cycle length of
poplar in the study area ranges from 10-20 years, depending on the soil type.
The production cycle length of poplar in the study area ranges from 15-19
years. It was calculated using three methods: Mo, M1 and M2. The assessment
based on the NPVs criterion determined a desired optimal production cycle
length of about 16 years on meadow semigley. When the optimum production
cycle length of Euro-American poplar is concerned, it is appropriate for the
analyses to use the maximization of the average net present value.
The paper evaluates the efficiency of a forestry company, which operates in
the territory of South Backa District. For this purpose, an analysis of
financial indicators of operations, i.e., ...liquidity, indebtedness and
solvency was performed. After that, the movement of basic indicators of
business efficiency is shown: productivity, cost-effectiveness, and
profitability. The aim of the research is to conduct a financial analysis of
the business of the analyzed company. The purpose of the research is to
identify problem areas in the business operations of the company within the
South Backa District, as well as to eliminate them. The subject of the
research are: balance sheet and income statement of the selected company.
The period taken into consideration is 2016, 2017 and 2018.
A company that handles natural resources such as forests is a complex economic entity. In addition to economic performance at annual level, the biological component of sustainable forest management ...should also be considered. It is therefore extremely important to achieve efficient business performance. Financial analysis is a process of determining important business and financial characteristics of a company from accounting data. It is characterized by a wide use of financial reports and various financial indicators - key figures. The paper presents business indicators of the main state-owned forest companies in selected countries of South East Europe (Croatia, Slovenia, Serbia, Bosnia and Herzegovina, and North Macedonia) using the method of comparative analysis based on financial reports (such as balance sheet and income statement). In countries where there are more than one state-owned forest companies, they were selected according to their importance for forest management and business results (share of forests, number of employees, profit and annual felling). The research results show the revenue and expenditure of the selected companies and profitability indicators such as return on equity (ROE) and return on assets (ROA). According to the annual business reports for 2017 and 2018, the company Croatian Forests Ltd. has the highest number of employees (7787 in 2018). The highest ratio ROA (32.17) and ROE (39.82) were achieved in the Slovenian state forestry company in 2017, which was founded in 2016. For 2018, the best results are achieved in the Slovenian Forest Company (SiDG), while the weakest results are achieved in the State Forest Company in North Macedonia. The profit per employee decreased in 2018 for most companies, but most significantly in North Macedonia, where it was four times lower. On the basis of the comparative analysis presented, all companies have a positive cost-benefit ratio, but long-term planning of forest management should follow biological and economic regulations to be competitive on the free market.
Poduzeće koje upravlja prirodnim resursom, šumom, predstavlja kompleksnu ekonomsku cjelinu. Osim ekonomskih pokazatelja na godišnjoj razini, dugoročno se mora voditi računa i o biološkoj komponenti potrajnog gospodarenja šumom. Dakle, iznimno je važno, učinkovito poslovanje. Financijska analiza je postupak utvrđivanja značajnih poslovnih i financijskih karakteristika poduzeća iz računovodstvenih podataka. Karakterizira je široka uporaba financijskih izvješća i raznovrsnih financijskih indikatora – pokazatelja. U radu će se pomoću metode komparativne analize prikazati pokazatelji poslovanja u poduzećima koji gospodare šumama u državnom vlasništvu Republike Hrvatske,
Republike Slovenije, Republike Srbije, Bosne i Hercegovine te Sjeverne Makedonije, na temelju financijskih izvješća (kao što su bilanca, račun dobiti i gubitka). Kako neke zemlje posjeduju više državnih šumarskih poduzeća, odabrana su ona koja gospodare većom površinom šume, brojem zaposlenih, profitabilnošću i godišnjim etatom. Korištenjem analize poslovanja, analizirati će se parametri koji predviđaju buduće trendove poslovanja. U radu su izračunati prihodi i rashodi odabranih poduzeća, ekonomičnost, te pokazatelji profitabilnosti, koji se najčešće izračunavaju kao pokazatelji povrata na vlasničku glavnicu (ROE) i pokazatelji povrata na ukupnu imovinu (ROA). Na temelju poslovnih izvješća za 2017. i 2018 godinu, najveći broj zaposlenih ima tvrtka Hrvatske šume d.o.o. (7787 u 2018. godini). Najviši pokazatelj ROA (32,17), i pokazatelj ROE (39,82) ostvaren je u tvrtki Slovenske državne šume 2017. godine, koja je osnovana 2016. godine. U 2018 godini, najbolje poslovne rezultate ostvarila je tvrtka iz Slovenije (SiDG d.o.o.), dok su najslabiji rezultati šumarskog poduzeća iz Sjeverne Makedonije. Dobit po zaposlenom se za većinu poduzeća smanjila u 2018. godini, a najznačajnije upravo u Sjevernoj Makedoniji gdje je četiri puta niža. Na temelju provedene usporedne analize, iako sva poduzeća posluju ekonomično, vidljivo je da dugoročno planiranje u šumarstvu treba osim bioloških slijediti i ekonomske zakonitosti, kako bi bili uspješni na slobodnom tržištu.
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