Book Review: The Changing Business Landscape of Romania

• Main Author: Ioan Plăiaş
• Format: Article
• Language: English
• Published: Academy of Economic Studies of Bucharest 2014-02-01
• Series: Amfiteatru Economic
• Subjects: Romania; Chainging Business Landscape; Book Review
• Online Access: http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=1277

The transition of Romania’s economy from a centralized economic system to another one (such as the market economy) did not take place instantly, when the political orientation changed since 1990. In addition to political will, this process also requires time to enable the creation of specific laws and establishments, the adaptation of people to the new system and the creation of a business environment appropriate to a market-regulated economy. Against this new backdrop, competition has heated up, the proper operation of organizations depends directly on their managers’ skill, and the rules of the game have changed radically by contrast with those of the centralized system wherein Romania’s economy operated before 1990. Consequently, it was necessary to implement a complete restructuring of the way in which businesses were being conducted. This required new competences, attitudes and know-how. The academic community also needed time and sustained effort to accustom itself to the western management system peculiar to the market economy.