Codrut Pascu, managing partner of Roland Berger, says weakplayers will continue to disappear from the market next year,because the economic revival will not be felt sooner than thesecond half of 2010, whilst many companies have yet to makestrategic decisions.
This is how managers of the largest companies see the Romanianeconomy after one year of crisis, when they had to consider as muchas three scenarios to cope with market changes: at least one toughyear is ahead, which will not see companies rely on revenueincreases. Moreover, the decline in consumer spending was tougherthan managers had anticipated in 2008, reveals a study byconsulting company Roland Berger Strategy Consultants.
The study was conducted this autumn in Central and EasternEurope, and included the 200 biggest private and state-heldcompanies on the Romanian market, whose turnover exceeded 100million euros last year.
"There is no longer the same uncertainty as last year. It isclear that no revival will occur on the market in the second halfof the year, and almost certainly not in the first half of 2010,either," says Pascu.
Managers are concerned about the consumption declines on theRomanian market, which have been steeper than they had anticipatedin 2008. Even the fast moving consumer goods market saw declinesand more pessimistic forecasts this year, after in 2008 bigcompanies still bet on the market resisting the crisis, Pascu says."On some of the projects we now have on the FMCG (fast movingconsumer goods) market, we are at the third market scenario in thelast year," he specifies.
The budget revisions and the cost-cutting programmes have beenvery common within large companies on the Romanian market, withmore than half of them taking steps such as a freeze on hiring andon investments in development, because of the market decline.
However, Pascu says that very few executives and entrepreneurshave so far taken strategic measures meant to give the company alonger-term direction, not just see it out of the crisis.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
