THE BEHAVIOUR OF ENTERPRISES IN TIMES OF CRISIS - Polish Journal of Management Studies

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THE BEHAVIOUR OF ENTERPRISES IN TIMES OF CRISIS

Abstracts > Vol 3

THE BEHAVIOUR OF ENTERPRISES IN TIMES OF CRISIS

Brzeziński S. *

Abstract:

The global financial crisis, which arose on Wall Street in mid-2008 undermined the standards applicable in the global economy. Capital inflows from banks and other financial entities to companies decreased dramatically, including those from investment  funds, pension funds, etc., which was the first result of the crisis and redefined the standards previously helping the companies to achieve market goals. It is also the case with production units, banks, etc.
The crisis led to significant deterioration of economic order on a global scale. As a result of the crisis, cooperation between individual enterprises was also severely hit by the crisis on both micro- and macro-scale. Traditional markets for goods and  services experienced some wavering as well. It made enterprises seek new measures for achieving market goals since the collapse of demand was the main effect of the sharp downturn faced by the global economy.

Keywords: Crisis, enterprises, economy, financial

Introduction

The crisis situation poses a considerable challenge to market participants and, at the same time, a serious threat to them to remain on the market. Still, the current situation is also an opportunity for some business entities to emerge or increase  their market shares. However, it refers only to these companies which managed to foresee threats, define them and draw adequate conclusions. Key to the current economic situation is taking such marketing and other actions which allow one to maintain proper  relations with the market. At the time of the global crisis, they need support of national and international institutions, such as: the World Bank and International Monetary Fund.
Both formal meetings of heads of states, i.e. G8 Group, G20 Group and OPEC, as well as informal meetings of heads of the most influential world powers are of immense significance. Decisions adopted during these meetings concerning, inter alia,  monetary and customs policy, internal support plans for companies (exemptions etc.) are the engine of diminishing crisis phenomena and bringing the global economy back on the route towards development.
It is obvious that times of crisis observe a fall in demand for goods and services, generally, at a regional, local and global scale. Such a phenomenon was evident even at the end of 2008 i.e. in the first year of the current worldwide crisis.....


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Summary

In view of the above, further research should be focused on the policy carried out in order to support SMEs by national governments, and be accompanied with an analysis of coordination of this policy between institutions responsible for it. Only  after conducting the research and the analysis will it be possible to respond to the question why, for instance, in the United States, there exists one central agency which deals with supporting small and medium-sized companies (US Small Business Administration  is the largest institution of this type worldwide), while in Poland, there is no governmental unit which would coordinate the state policy towards the SMEs sector.


References:

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ZACHOWANIE PRZEDSIĘBIORSTWA W CZASACH KRYZYSU

Streszczenie:

Światowy kryzys finansowy, który powstał na Wall Street w połowie 2008 roku podważył standardy stosowane w gospodarce światowej. Napływ kapitału z banków i innych instytucji finansowych do spółek, w tym z funduszy inwestycyjnych, funduszy emerytalnych, itp. znacznie spadła, było to pierwszy efekt kryzysu a zdefiniowane uprzednio standardy pomogły firmom osiągać cele rynkowe. Miało to również miejsce  w przypadku przedsiębiorstw  produkcyjnych, banków itp. Kryzys doprowadził do znacznego pogorszenia ładu gospodarczego w skali globalnej. W wyniku kryzysu, także poważnie ucierpiała współpraca pomiędzy poszczególnymi przedsiębiorstwami w skali mikro i makro. Na tradycyjnych rynkach towarów i usług, również wystąpiły pewne wahania. Spowodowało to że przedsiębiorstwa zaczęły poszukiwania  nowych środków dla osiągnięcia celów rynkowych, od kiedy zmniejszenie popytu było głównym skutkiem gwałtownego spadku z którymi boryka się gospodarka światowa.



 
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