Cost Management under Economic Crisis impact from State of War between Russian-Ukrainian

Abstract

          This academic paper aims to analyze the academic paper on cost management approaches during the economic crisis affected by the Russo-Ukrainian War. The importance of organizational management in managing the organization to achieve its objectives. both in terms of planning, controlling, and making alternative decisions details as follows:

          1. Short-term cost management by closing all risks managing energy costs and controlling the supply chain by preparing raw materials in sufficient quantities and at reasonable costs. energy futures contract ready to manage financial costs to be at an appropriate level. and flexible to adjust according to the situation.

          2. Long-term cost management in business especially the increase in the proportion of renewable energy and alternative energy Developing low-carbon products adjusting the investment project plan to suit the situation and reviewing new investment projects that affect the long-term use of money.

          2 phases of cost management are important factors that will affect business operations that have been affected by the economic crisis, especially in terms of higher costs of energy affected by the Russian and Ukrainian wars.