What is a good response to the information below

Opinion on the information

The changes of the last twenty years are connected with the development of third world countries and the following globalization as well as with the development of information technologies and with the impacts of the recent global economic crisis; they have all made businesses - including the small- and medium-sized onestake up management (Veber, Srpov, 2005) on the basis of the so-called Business Process Management. management of plans, goals, visions and missions, being based on surveys and analyses. However, the absence of consistent controlling and system risk management (Sieber, Hnilica, 2011) made itself felt fully at the time of the sharp market decline. Companies responded to the shortening periods between success stages and crises by applying a model based on strategic and operational planning (Havlek, Schlossberger, 2013), controlling arising out of management accounting (Krl et al., 2010) and proposing measures in the form of risk management.

Regular forecasts are lower than the budget - this is undoubtedly a negative piece of information, which affects the budgeted results, and sometimes the existence of the entire enterprise. Timely indication of this situation several months in advance is twice as important as it is essential to start implementing immediate measures. These might include a request for replenishing foreign resources, which for the banks might be a matter of several weeks or even months. These can also be drastic cost savings, among other redundancies; this is again a matter of several months (notices plus severance pays). The company has several months to sell off remaining investment assets and to secure necessary cash; otherwise it is necessary to take restructuralization steps.

Management of a trade receivable starts as early as at the moment of fi rst contact with the customer, when we try to learn about the clients business environment, its corporate culture, its reputation and that of its partners and interested parties. At this stage of customer cooperation, salespeople recommend a sales credit (the maximum amount of fi nance allocated for the customer, this is in fact a credit limit) and the maturity (the period within which the customer shall pay its invoices); at the same time, salespeople help propose ways of securing provided credits (insuring receivables, securing receivables by customers bank, bills of exchange, letters of credit, or other guarantees).