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Management 101: Behavior of Firms in Transition Economies

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  • Josef C. Brada

Abstract

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.

Suggested Citation

  • Josef C. Brada, 1998. "Management 101: Behavior of Firms in Transition Economies," William Davidson Institute Working Papers Series 133, William Davidson Institute at the University of Michigan.
    • Handle: RePEc:wdi:papers:1998-133
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    File URL: http://deepblue.lib.umich.edu/bitstream/2027.42/39523/3/wp133.pdf
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    Cited by:

    1. Klaus E Meyer, 2000. "International Production Networks and Enterprise Transformation in Central Europe," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 42(1), pages 135-150, April.
    2. Morris Bornstein, 2000. "Post-Privatization Enterprise Restructuring," William Davidson Institute Working Papers Series 327, William Davidson Institute at the University of Michigan.
    3. Spartak Keremidchiev, 2008. "Policies for Restructuring of the State Firms in Sector Water Supply and Sewage," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 66-111.
    4. Morris Bornstein, 2001. "Post-privatisation Enterprise Restructuring," Post-Communist Economies, Taylor & Francis Journals, vol. 13(2), pages 189-203.
    5. Irena Zareva, 2008. "Main Challenges to the Educational and Professional Qualification of the Labor Force in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 24-65.
    6. Nebojsa Stojcic, 2012. "Patterns And Determinants Of Enterprise Restructuring In Central And East European Countries," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 21(2), pages 429-456, december.

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