The Challenges Of Defining And Implementing Corporate Restructuring Programs

Open access


The main objective of this paper is to present problems which get in the way of the implementation of planned structural changes brought about by restructuring. This is a very complex matter and a problem which currently troubles Serbia, considering the large number of enterprises which need to be restructured. As opposed to the practice of most developed countries, and even some transitional countries, with intense restructuring processes, these processes have been rather slow in Serbia. However, restructuring is becoming inevitable for a significant number of domestic enterprises. In some enterprises, restructuring needs to be implemented through the bankruptcy and liquidation procedure since there really are no grounds that support their assistance in the form of subsidies, which will indefinitely prolong their unprofitable operations without any chance for success in the market. Still, enterprises with a chance for success in the market can go a long way with the help of aggressive restructuring. With this in mind, the paper outlines some directions for development of corporate restructuring implementation plans.

If the inline PDF is not rendering correctly, you can download the PDF file here.

  • Angehrn A. and J. Atherton (1999) A Conceptual Framework for Assessing Development Programmes for Change Agents ECIS. Copenhagen.

  • Bennis W. and B. Nanus (1985) Leaders: Strategies for Taking Change. New York: Harper & Row.

  • Burke W. W. (1995) Diagnostic models for organization change. Diagnostic models for organization change. New York: Guilford Press.

  • Carr D. H. and W. Trahant (1996) Managing the change process. Coopers & Lybrand Center for excellence change.

  • Cascio W.F. (2003) Odgovorno restrukturiranje – kreativne i profitabilne alternative otpuštanju. Novi Sad: Prometej.

  • Canterucci J. (1998) Change Project Management SM - The Next Step. Transition Management Advisors [Online]. Available from:

  • Chakrabarti A. E. Vidal and W. Mitchell (2011) „Business transformation in heterogeneous environments: The impact of market development and firm strength on retrenchment and growth reconfiguration“ Global Strategy Journal 1: 6-26.

  • Coates R. (1994) The path of recovery. Deloitte & Toushe.

  • Chang Ha-Joon (2002) „Kicking Away the Ladder: How the Economic and Intellectual Histories of Capitalism Have Been Re-Written to Justify Neo-Liberal Capitalism“ Post-autistic economics review Septemeber 2002.

  • EBRD (2013) „Transition Report 2013-Stuck in tranistion?“ EBRD publications.

  • Erić D. and I. Stošić (2013) Korporativno restrukturiranje Institut ekonomskih nauka Beogradska bankarska akademija Čigoja.

  • European Restructuring Monitor (2012) „After restructuring: Labour markets working conditions and life satisfaction“ Luxembourg: Publications Office of the European Union.

  • European Restructuring Monitor (2008) „Restructuring in Europe 2008 - A review of EU action to anticipate and manage employment change“ Commission staff working document Commission of the European communities Luxembourg: Publications Office of the European Union.

  • Ministarstvo finasija Republike Srbije (2012) „Izveštaj o razvoju Srbije“.

  • Janićijević N. (2012) „Uticaj organizacione kulture na kontrolu ponašanja u organizacijama“. Ekonomske teme 2012/3

  • Kotter J.P. and L. Shlesinger (2008) Choosing strategy for change. Harvard Business School Press.

  • Ministarstvo privrede Republike Srbije (Jun 2013) „Akcioni plan za okončanje restrukturiranja“.

  • Price Waterhouse (1995) „Better Change: Best Practices for Transforming Your Organisation“. Change Integration Team. New York: Irwin.

  • Samaras A. H. (2004) Corporate Restructuring - An Overview. [Online] Pytheas. Available from:

  • Useem M. (1992) Corporate Restructuring and Organizational Behavior - Transforming Organizations New York: Oxford University Press.

  • Vance D. (2009) Corporate restructuring From cause analysis to execution London and New York: Springer.

  • Weick K.E. and R. Quinn (1999) „Organizational change and development“. American Review of Psychology 50: 361–386.




Journal information
All Time Past Year Past 30 Days
Abstract Views 0 0 0
Full Text Views 3879 1566 349
PDF Downloads 211 149 1