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The Characteristics Of Preferred Strategic Postures By Bulgarian Industrial Companies In The World Financial And Economic Crisis

Author

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  • Kiril Dimitrov

    () (Business Faculty University of National And World Economy Sofia, Bulgaria)

Abstract

This article presents the results of a survey of Bulgarian industrial organizations with respect to their clashes with the world financial and economic crisis’s effects on local economy. The crisis manifestations under business environment specificity factors and important cultural aspects of dominating managerial behavior in these companies are described and analyzed. The concrete research encompasses two groups of industrial companies, representing two opposite views to crisis – as a threat or as an opportunity. Attitudes to crisis, undertaken anti-crisis measures in key functional areas, preferred strategic moves of these companies are surveyed, analyzed and summarized, i.e. unravelling dominating attitudes among the majority of managers to perform serious cuts in expenditures in important functional spheres as human resources, investments, innovations, marketing, etc., and also noticing the minority of organizational leaders that accept the challenges of re-inventing current business models and/or re-formulating company vision and mission statements

Suggested Citation

  • Kiril Dimitrov, 2011. "The Characteristics Of Preferred Strategic Postures By Bulgarian Industrial Companies In The World Financial And Economic Crisis," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 58, pages 203-234, november.
  • Handle: RePEc:aic:journl:y:2011:v:58:p:203-234
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    More about this item

    Keywords

    industrial organizations; crisis management; Bulgarian companies; firm manage- ment; business strategy.;

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • D2 - Microeconomics - - Production and Organizations
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J5 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining

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