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The Changing Business Landscape of Romania - Lessons for and from Transition Economies (Hardcover, 2013 ed.)
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The Changing Business Landscape of Romania - Lessons for and from Transition Economies (Hardcover, 2013 ed.)
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Romania stands at the crossroads of Europe, Asia, and the Middle
East. Since 1990, when the country experienced the bloodiest
revolution of all of the Warsaw Pact members, Romania has gone
through withering change. While the formal transition from a
totalitarian, communist state was completed in 2007 with Romania's
accession into the European Union, the adaptation of the nation's
people and business climate to a market-based economy is a daily
occurrence. In the 2000's, in the lead up to EU accession, Romania
was one of the largest recipients of Foreign Direct Investment in
the world. While multinational corporations poured in hundreds of
billions of dollars, there was also a restructuring of the way
business was conducted. Western systems of management and
organization-foreign to most Romanian academics and business
people-almost overnight transformed the way the marketplace was
perceived. Romania's entrepreneurs were quick to adapt to the new
ways, leveraging new opportunities in the environment. Fortunes
were made. Multinationals also burgeoned in Romania. Companies like
Microsoft, General Electric, Timken, Kraft, P&G, Renault and
dozens of others successfully took advantage of the possibilities
created by a relatively well-educated population that was moving
into the middle class. For the most part, however, researchers and
scholars were caught off guard by the quickening pace of business
change in Romania. Only until very recently has the academic
community at large been able to wade through the murkiness and
begin to see what the new landscape looks like. It is the purpose
of this edited volume, which includes the work of some of Romania's
finest business scholars, to provide even greater clarity to the
current and future scene. Moreover, the experience in Romania helps
shed light on the dynamics of economic and business transition
throughout Eastern Europe, the Middle East, and other emerging
regions, with implications for practice, policymaking, and
research.
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