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Succeeding in a Transition Economy - Survival Strategies in Eastern Germany (Paperback)
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Succeeding in a Transition Economy - Survival Strategies in Eastern Germany (Paperback)
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This is a book about survival. How do companies survive when the
basic conditions for their existence change overnight? The question
has a newly revived and essential actuality as a result of the
recent world economic crisis. The fall of the Berlin Wall on 9
November 1989 and the launch of the German Economic, Monetary and
Social Union on 1 July 1990 radically changed economic conditions
for more than 8,000 previously state-, municipal- or party-owned
companies in the former German Democratic Republic (GDR).
Overnight, most East German manufacturing plants had been devalued,
after having been able to survive for decades thanks to a protected
market in the East -- which also collapsed, along with the East
German domestic market. For East German companies, the monetary
union meant "the introduction of a social market economy without a
market", as Birgit Breuel, president of the worlds largest holding
company, the Treuhand agency, described it. In a move without
historical precedent and under considerable political pressure,
Treuhand privatised 15,000 companies and liquidated 4,000 others in
less than five years. Many of these 15,000 companies did not
survive. But for several hundred medium-sized and small businesses
the market economy provided a real upturn, and for about one
hundred companies it opened doors to previously unimaginable
opportunities. Today, several of these firms are brand or market
leaders in Germany or even globally. How did these companies
succeed? For an answer, we visited 15 of these companies in about
ten industries and evaluated the strategies they used to survive
or, more importantly, become dominant players. What did they do
differently from the companies that failed?
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