Abstract
Regarding different causes which have led to the crisis in the company, its type, available assets and characteristics of the company, it is not possible to apply one of the generally accepted models, concepts or approaches for crisis solving. In spite of difference of positions, due to the characteristics of the crisis, it is however possible to describe certain measures which are most commonly applied for crisis healing by companies. Such measures can be classified in several groups. One of the most important area when the company is faced with crisis are the measures to be prepared and executed in the area of revenue and sales where the crisis is usually shown mostly as declining sales in value and/or quantity. Such measures can be: increase in sales, selection of production – sale assortment and levelling prices. In the paper the measures from the field of revenue and sales in times of acute crisis in a company are explained, together with some empirical evidence from the Slovenian business practice. The final conclusion of this paper is that the company crisis cannot be eliminated only by introducing financial measures, especially the measures in the area of revenue and sales can be critical which are unfortunately in many cases avoided or even neglected mostly due to necessary time and investment.
Highlights
All crises create a distressing, uncertain and worrisome situation, which endangers property as well as people, and influences established business and life flows, which is why we want to resolve this situation as soon as possible
The extent of the crisis is simultaneously reflected in several areas, making it a complex or multidimensional phenomenon, affecting the economic, social, traditional, psychological and legal aspect, their contents are described in the following Table 1
Ensuring a sufficient revenue level is critical; the main problem is that a decline in sales must first be stopped and transformed into growth, which can take a longer period of time and certain investments with time-delayed results, whereas a company in acute crisis has only a limited amount of time and limited resources for investing in the market and new programmes
Summary
All crises create a distressing, uncertain and worrisome situation, which endangers property as well as people, and influences established business and life flows, which is why we want to resolve this situation as soon as possible. Content endangers property as well as people and influences established business and life flows, redistributes the positions of market participants, changes the principles of success and increases the threshold requirements for survival. The purpose of this paper is to stress the importance of introducing financial measures in a company in crisis and the combined measures in the area of revenue, sales and marketing. At first side this can be quite understandable, in many cases this area is avoided or even neglected due to the fact that a company in crisis has no available resources and time which are needed in order to stop a decline in sales and transform it into growth, what can take a longer period of time and certain investments with time-delayed results. We recognize the limitations of the research and that the financial restructuring plans, from which were obtained the information, are not necessarily the actual strategic business plans and may not include all the short-term measures envisaged
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