Каталог статей из сборников научных конференций и научных журналов- Restructuring: essence, condition, types

E. Sielicka PhD student,

A. Choma PhD student,

Wroclaw Univeristy of Economics,

Wrocław, Poland

In the considerations on the economy, the expression "restructuring" is common, meaning the restoration of previous structures, but in practice this term is used in the context of activities whose aim is to transform the current order into a more favorable structure for the enterprise [1, p. 361].

The functioning and development of enterprises are conditioned by the increase in profitability in all areas of their activity. Functioning in a changing environment, the organization must constantly make decisions regarding various restructuring activities, which may adapt tasks, functions and methods of work organization to new conditions. The concept of restructuring is identified with the necessity of making changes. It is a process involving interrelated activities and goals that need to be coordinated. They are aimed at increasing the competitiveness of managing resources and production factors, and as a result, increasing market value. It is therefore an alternative to the previously occupied market position, possessed capabilities and the condition of companies in the area of both material and technical base, as well as economics and the market [2, p. 9]. Generally speaking, restructuring means adjusting the technical, organizational and financial processes of an enterprise to the desired conditions of its future functioning, both in tactical and strategic terms [7, p. 12]. There are many indications of the restructuring process in science. They are often dependent on the situation in a given country. Regarding to Poland, the reasons for restructuring can be divided into [5, p. 23]:

• external premises,

• internal premises.

Each company has a specifics that should be taken into account when making all kinds of structural changes. Typical features for various types of business and related organizational, legal, technical – production, property, financial and other forms affect the choice of a particular method and program for the planned change, the source of restructuring and transformations, the way capital is accumulated, and the pace of change system in the enterprise [7, p. 47]. In the age of change, the company faces the necessity of making economic decisions that must ensure its efficient functioning and development in the future and distinguish it from the competition [3, p. 53]. One of the most important elements in the process of managing the restructuring of an organization is to assess the condition of the company using the methods and tools of economic analysis. The evaluation mechanism should be directed to continuous observation of the environment and recognizing the possibilities of the organization to take advantage of the opportunities emerging in it and eliminate potential threats. It should be noted that, using economic analysis as part of the restructuring procedure, it shows, on the one hand, the presumptions for taking current and long-term ex ante decisions, and on the other hand it is a tool for assessing the correctness of decisions and indicates the need for possible ex-post adjustments [4, p. 13].

B. Solarz links the need for restructuring with the identified weakness of the organization. Depending on the nature of the introduced changes, one can talk about restructuring [6, p. 12]:

• development

• convalescence,

• rescue.

To sum up, the concept of restructuring is very important in the economy and the research carried out for this paper allows for undertaking further research focusing on this issue based on the observation of economic practice.

Bibliography

1.    Balcerowicz, L., 1995. Wolność i rozwój. Ekonomia wolnego rynku. Kraków: Znak.

2.    Borowiecki, R., 1998. Wpływ restrukturyzacji na zdolności organizacyjne przedsiębiorstw. Przegląd organizacji, Nr 1.

3.    Garstka, M., 2006. Restrukturyzacja przedsiębiorstwa. Warszawa: CeDeWu.

4.    Jagoda, H., 1999. Przyczyny niepowodzeń restrukturyzacji przedsiębiorstw. Przegląd organizacji, Nr 7.

5.    Sapijaszka, Z., 1997. Restrukturyzacja przedsiębiorstwa - szanse i zagrożenia. Warszawa: PWN.

6.    Solarz, B., 1998. Zakres, ogólna ocena procesów i rozwoju przedsiębiorstw. Przegląd organizacji, Nr 1.

7.    Suszyński, C., 2003. Restrukturyzacja, konsolidacja, globalizacja przedsiębiorstw. Warszawa: PWE.