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Management 101: Behavior of Firms in Transition Economies

Listed author(s):
  • Josef C. Brada

This paper uses published case studies of firms in the Czech Republic, Hungary and Poland to examine how firms are reacting to the pressures of transition. Most firms made short run adjustments to output and input use; fewer firms began to make strategic adjustments. The paper examines how short-run responses influence the ability to implement long-run strategies for survival and growth and identifies common elements in the long-run behavior of firms that appear to be successful. Among these elements are the strengthening of the marketing function, the reorganization of internal decision making and information systems, investments in human resources and creation of effective mechanisms of corporate governance. The willingness to shed labor and the ability to make large investments in capital and technology are, rather surprisingly, less common features of successful restructuring.

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Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 133.

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Length: pages
Date of creation: 01 Mar 1998
Handle: RePEc:wdi:papers:1998-133
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