STRATEGIC RESTRUCTURING OF ENTERPRISES IN CRISIS SITUATIONS – COMPARATIVE ANALYSIS OF BOSNIA AND HERZEGOVINA AND THE EU

Abstract

Business failure and poor business results over a long period of time represent a sure path to crisis. In such conditions, the postulates of the so-called crisis management (Crisis management) are accepted as a necessity and the need for strategic restructuring imposes in the long run. Managers are often not able to recognize the symptoms and causes of the company’s crisis in time. This leads to a weakening of the business performance and business results of the company and eventually to the company’s entry into the business crisis. The strategic approach to restructuring encompasses a broader aspect of the activities that need to be carried out in order for a company to emerge from the crisis, survive and thrive. Which restructuring strategies to apply in times of corporate crisis largely depends on the current position of the company, goals, needs and ways out of the crisis. Also, we tested the statistical impact and comparison, types of restructuring of large enterprises in Bosnia and Herzegovina in relation to European Union enterprises. The results showed that our managers understand the importance of a strategic approach to corporate restructuring. In this respect, we do not statistically differ significantly from the countries of Western Europe, Central Europe, Eastern Europe, and Serbia.