A Strategy for Optimizing the Company's Costs and Increasing Revenues

Rusudan Sulakadze

A Strategy for Optimizing the Company's Costs and Increasing Revenues

Rusudan Sulakadze

Ph.D Candidate Tbilisi State University, Georgia

Abstract

Peer review method: Double-Blind

Accepted: May 22, 2023

Published: June 14, 2023

Original scientific article

DOI suffix: 10.36962/NEC18022023-51

The paper defines the company's strategic goals, which involve achieving the company's financial sustainability and providing safe water supply and sanitation services to the population. In order to achieve the mentioned goals, the main areas of intervention have been identified. The structure of the company's obligations will be reinforced by performance-based agreements signed between the company's management and the Ministry of Regional Development and Infrastructure, as well as the company's head office and regional branches. The main monitoring tools will be clearly defined target indicators that are directly related to the business plan. Thus, a performance-based work culture will be strengthened. The company will approve a systematic strategy and plan for the development of human resources in order to attract, motivate and retrain competent and productive personnel. Work is also actively underway to determine the appropriate form of cooperation with the private sector. The involvement of the private sector ensures the improvement of service level, quality and financial sustainability of the company.

Keywords: Water Supply; Organization and management structure; Private Sector Participation; Operational improvements; Asset Management; Benchmarking; Non-Revenue Water; Energy Efficiency

References:

1.International Infrastructure Management Manual, https://pdfcoffee.com/international-infrastructure-management-manual-iimm-pdf-free.html, Last checked – 10.05.2023;

2.Business Plan for UWSCG, ADB Consultant Report, http://water.gov.ge/page/full/108, Last checked – 10.05.2023;

3.Activity Report, GEORGIAN NATIONAL ENERGY AND WATER SUPPLY REGULATORY COMMISSION, https://gnerc.org/files/Annual%20Reports/Reports%20English/Annual%20Report%20-%202021.Eng.pdf, Last checked – 10.05.2023;

4.Financial Statements 2020-2021, UWSCG, http://water.gov.ge/page/full/103, Last checked – 10.05.2023;

5.Water balance of the International Water Association, https://www.leakssuitelibrary.com/iwa-water-balance/, Last checked – 10.05.2023;

6.The EBRD’s Latest Georgia Strategy, file:///C:/Users/Admin/Downloads/Georgia%20Country%20Strategy%20-%20ENG.pdf, Last checked – 10.05.2023;

7.Public-Private Partnership Handbook, Asian Development Bank, https://www.adb.org/sites/default/files/institutional-document/31484/public-private-partnership.pdf, Last checked – 10.05.2023;

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The New Economist N 2 (2023), Vol 18, Issue 2

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Published Date:

03/07/2023

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