„We cannot forget, however, that the times following a crisis are characterised by high risk and it is solely up to companies to decide how they will use such times,” said Jacek Poświata, Managing Director of McKinsey & Company during the panel discussion entitled 'Let’s conquer Europe – chances and limitations of Polish company development.'
As the research conducted by McKinsey showed, in the years 2004-2009 Polish companies grew annually by 15%, which is a better result than those of the other stock exchanges in our region. On the other hand, the growth of Asian stock exchanges reached 18-19%. Why wasn’t the development of Polish companies more dynamic?
[wyimek]15 percent Polish companies have grown in recent years[/wyimek]
Poświata reminded us that for a company to move forward it must operate in a growing market, which guarantees 40% of its success. The other condition is active participation in mergers and take-overs, which translates into a further 40% of growth. The remaining percentage depends on the management board’s actions. „Unfortunately, over recent years companies have used only the first lever, which resulted in growth below their potential,” explained the McKinsey representative.
Henryka Bochniarz, the head of the Polish Confederation of Private Employers, Lewiatan, does not really share this opinion. In her view the situation would be much better if it hadn’t been for the unfriendly environment. „There are so many obstacles associated with conducting a business that whenever I talk about them, my teeth already cause me pain,” she said. However, the President of Lewiatan believes that not all has yet been wasted. „Polish enterprises can develop through privatisation,” she added.
