Companies who will be the winners after economic growth resumesare those brave enough not to waste their resources to financeoperations with no future, says Silviu Manolescu, executive managerof audit and consulting firm BDO Romania.
"Tomorrow's winners will be those who manage to adjust theirresources and funding so that when growth is resumed, they will bein a position to offer what the market can buy. Companies need toidentify operations they cannot afford any more. And they are notallowed to lose strategic human resources. This is essential.Anything else can be rebuilt. Key people are tougher to replace,"Manolescu told ZF in an interview.
BDO Romania has 11 partners and last year saw a 10% turnoverrise against 2008, of 10 million dollars (7 million euros).
The head of BDO believes companies that understand correctly thetrends specific to the markets they are operating on, and are ableto adjust their structure and operating volume without losingstrategic resources and preserve relations with business partnersby redefining commercial conditions to the extent where therelation makes sense economically will be the top performers.
Manolescu says making the right decisions in a time of crisis,even in private companies, has been slightly delayed, withexecutives in some companies making the mistake of waiting forbetter days, and failing to take quick and firm restructuringdecisions.
"I think a first mistake that was made was in terms ofperception, in the evaluation of how powerful the "storm" would be.Maybe there was also inertia involved, because, after ten years ofeconomic growth, it is hard to believe that things can go so bad sosuddenly? It's only human to think like that," he says.
Another mistake was the replication of anticrisis measures takenby other organisations, without analysing their effects on theirown company.
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