Purpose – The purpose of this paper is to describe the strategies of enterprises located in Hungary parallel with joining the European Union and to evaluate the preparation of firms for the competitive conditions within the EU. Design/methodology/approach – The paper is based on a questionnaire survey including 301 enterprises. Top managers of medium sized and large enterprises answered the questions. Data were analysed by using mathematical and statistical methods, among them factor and cluster analysis. The paper discusses enterprise strategy by taking into account environmental conditions and internal characteristics of firms. Findings – The paper deals with both content and process characteristics of strategies. Attention is devoted to issues like strategic alliances, mergers and acquisitions, research and development, corporate governance. Research limitations/implications – Small enterprises are hardly represented in the sample. Emphasis is laid on the formalised systems of strategy development. Informal strategic processes are not analysed in detail. Practical implications – The paper provides valuable information for evaluating the progress of Hungarian enterprises within the EU. Comparison with experiences in countries joining the EU parallel with Hungary may provide lessons for managers of Hungarian companies to improve their competitive position. Originality/value – The paper relies on data from a large number of Hungarian enterprises. The conclusions may be useful for researchers interested in studying strategies of enterprises in transforming economies and also for practising managers in central and eastern Europe.
Competitiveness Review: An International Business Journal incorporating Journal of Global Competitiveness – Emerald Publishing
Published: May 23, 2008
Keywords: Competitive strategy; Corporate governance; European Union; Hungary
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