Achieving Success During Crises

Survival and successful development during crises represents a great challenge for companies. In order to be able to manage the difficulties posed by the market turbulences organizations need to employ certain dynamic capabilities that they developed and nurtured through the years. Such capabilities prove to be of major importance for coping with the economic and market disadvantages brought about by the hyperinflation in Bulgaria in 1997 and Bulgariäs EU accession in 2007 as seen in the case of BOSICO. The present research finds that, for the Bulgarian organization BOSICO operating in the metal articles industry, unique managerial decisions, consistent ability to sense and seize opportunities, transfer of knowledge and the capability to establish first-mover advantages were key to its successful management of the above mentioned market crises.