TRANSFORMING COMPANIES AND ADAPTING TO THE NEW GLOBAL CONTEXT. PERSPECTIVES, CHALLENGES AND OPPORTUNITIES

Sorin Terchila
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Sorin Terchila: Lucian Blaga University of Sibiu

Revista Economica, 2023, vol. 75, issue 4, 82-93

Abstract: The last 15 years have shown that the world is in continuous change. The dynamics of this process is at a very high level due to or because of some global phenomena. We can mention the economic crisis from 2008-2010, which had a devastating impact on many businesses, with a direct negative impact on jobs. We can also mention the global Covid-19 pandemic, which had negative effects on people in general, but also on the entrepreneurial environment. In addition, the war in Ukraine generated even more uncertainty, but also concern, at the European and global level. The main objective of this research work is to highlight the problems faced by entrepreneurs, but also the opportunities they can identify in these periods of multiple crises, at the local, national, and international levels. In order to obtain the results, I identified a series of entrepreneurs from different fields, who crossed these difficult periods, and who transformed their businesses. I will present the vision they had in the past and the one they have now, but also the predictability of entrepreneurs. Depending on all these aspects, the adaptability of business people and employees can be evaluated. Following the interviews conducted, the analysis of documents and studies, and some preliminary results can be presented: the entrepreneurs try to adapt to all the problems and challenges encountered. Some of them succeeded and even identified opportunities in other directions, and others gave up. In all these difficult periods, new brave entrepreneurs appeared, who thought creatively and took their businesses to a higher level. Most businesses have changed a lot in the last 15 years. One of the main reasons is represented by the complex digitization process, both in the public and private sectors. Most of the interviewed entrepreneurs have as their main objective: the sustainability of their companies.

Keywords: Adaptability; Vision; Predictability; Threats; Creativity (search for similar items in EconPapers)
JEL-codes: M30 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:75:y:2023:i:4:p:82-93

DOI: 10.56043/reveco-2023-0040

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