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Study Regarding The Successful Management Practice And The Changes In Management Approach Due To Financial Crisis

Author

Listed:
  • Natalia Silas

    (West University of Timisoara, Timisoara, Romania)

  • Ciprian Sipos

    (West University of Timisoara, Timisoara, Romania)

  • Calin Silas

    (Banca Comerciala Feroviara)

Abstract

Modern management involves a wide range of skills and knowledge, many of which assuming skills in social sciences, logics, philosophy, psychology, mathematics, statistics, information technology, international relations, languages and culture. There is no universal management style to be effective, but all factors need to be analyzed in a given situation and then to be chosen a person with a style to suit the situation and capable to train people to meet the requirements. The present study intends to analyze the management practices that determine the success in business, as well as the changes that occur in the management approach due to the financial crisis. In this respect, the research takes into consideration two reference periods, the year 2007, a year of great economic growth, which precedes the financial crisis, and the year 2012, year in which the consequences of the financial crisis exist in a great extent in all social economic fields. The criteria considered are ranked based on a sample of data obtained by interviewing the managers of 290 companies that have successfully overcome problems caused by the crisis. Are highlighted in the paper the most important methods of management that, according to the surveyed managers, can help the company to overcome the difficulties generated by influence of national and international environment.

Suggested Citation

  • Natalia Silas & Ciprian Sipos & Calin Silas, 2013. "Study Regarding The Successful Management Practice And The Changes In Management Approach Due To Financial Crisis," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 241-252, April.
    • Handle: RePEc:cbu:jrnlec:y:2013:v:2:p:241-252
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    File URL: http://www.utgjiu.ro/revista/ec/pdf/2013-02/37_Silasi%20Natalia,%20Sipos%20Catalin.pdf
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    References listed on IDEAS

    as
    1. Danes, Sharon M. & Stafford, Kathryn & Loy, Johnben Teik-Cheok, 2007. "Family business performance: The effects of gender and management," Journal of Business Research, Elsevier, vol. 60(10), pages 1058-1069, October.
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