Business Practices in Crisis Conditions. The Decline of the Big Rose Oil Trading Companies in the 1930s

Pencho D. Penchev () and Momchil Marinov ()
Additional contact information
Pencho D. Penchev: University of National and World Economy - Sofia, Bulgaria
Momchil Marinov: History Museum “Iskra” – Kazanlak, Bulgaria

Proceedings of the Centre for Economic History Research, 2024, vol. 9, 387-399

Abstract: The first part of the paper is focused on the main problems of rose production and rose oil trade during the period of the 1930s. Rose production is a classic market and export-oriented branch of Bulgarian economy. The problems it experienced show how delicate and complex a matter is the market orientation of any production. It depends on complex internal and external factors and can bring prosperity to individual regions and profits to producers and traders, but this is not certain. The second part is focused predominantly on attempts of one of the iconic Bulgarian rose trading companies "Petko Iv. Orozov and Son” to deal with the problems caused by the Great Depression. The fate of the company "Petko Orozov and Son" shows that if the hostile external market environment is combined with internal shortcomings in the company itself, no matter what strategies are used, an easy escape from the problems cannot be expected. Political connections, marriages, the opportunities provided by legislative changes to save from bankruptcy are not enough.

Keywords: rose oil; Great Depression; trade; business strategies (search for similar items in EconPapers)
JEL-codes: N14 N84 (search for similar items in EconPapers)
Date: 2024
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://csii.bg/series/2024-9/pdf/31-Penchev-Marinov.pdf (application/pdf)
http://csii.bg/series/2024-9/html/32-Penchev-Marinov.htm (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ceh:journl:y:2024:v:9:p:387-399

Access Statistics for this article

More articles in Proceedings of the Centre for Economic History Research from Centre for Economic History Research Contact information at EDIRC.
Bibliographic data for series maintained by Ivan Roussev ().