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| Topic: |
Business
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| Number of pages / Number of words: |
12 / 3235 |
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Most firms in the emerging economies of the former Soviet block were characterised by obsolete machinery and outdated production methods. To compete in a market environment, firms had to improve their efficiency by engaging in strategic restructuring, i.e. updating the equipment and production process...
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(Irina Grossfeld and Gerard Roland, 1996). Foreign investors quickly took measures to improve productivity and therefore reduced over manning of which suffered the majority of the companies, replaced the often obsolete apparatus of production by more productive equipment and, finally, introduced new methods of management and organization of work...
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