Organizational restructuring as a way to resolve the crisis caused by COVID 19, in agricultural sector

Cico, Snežana and Rajnović, Ljiljana and Bošnjak, Ivan (2021) Organizational restructuring as a way to resolve the crisis caused by COVID 19, in agricultural sector. Economics of Agriculture, 68 (3). pp. 611-625. ISSN 0352-3462

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Abstract

The crisis, as a negative deviation that is serious and can jeopardize the company’s business usually doesn’t occur suddenly, but gradually in individual areas, accumulating its effects. The crisis caused by the pandemic came suddenly and immediately caused a disruption of economic activities, without the possibility to predict and prevent it. It hit the agricultural sector with great intensity. The analysis of the business entities in agricultural sector in Serbia has shown that these entities suffered great damage and that it is necessary to take restructuring measures as soon as possible, primarily organizational ones. The results of the research showed that the crisis caused by COVID 19, mainly affected the entire long chain of participants in agriculture. Government measures, which included providing financial support and subsidies, are certainly welcome but not sufficient. The authors concluded that it is therefore necessary for companies to implement restructuring measures in order to ensure a speedy recovery.

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