CRISIS INVERSION STRATEGIES THEORY OR REALITY IN ROMANIA OF 2009?

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By: Ruxandra CIULU
JEL: E32, G01, L19
Keywords: crisis, Romania, strategy, inversion

The world crisis has begun showing its effects in Romania in October 2008. Still, the immaturity of Romanian authorities in the political and economic fields, as well as the enthusiasm of economic development led to an unconscious state of mind regarding the crisis. Therefore, Romanian companies have not started preparing for the crisis until they began feeling its effects. Also, a large number of Romanian managers are not familiar with crisis inversion strategies and accept crisis as an invincible necessity. Still, in other economies we can find examples of managers who fight for saving their companies and even try gaining competitive advantage based on the crisis. We have tried to find out if Romanian managers belong to the second type. Mainly, the study focuses on strategies adopted by Romanian companies in order to counterbalance or, at least, ensure their survival during the world crisis.