Contents Introduction * Part I: Prerequisites for Management Transition * Ethical Problems When Moving to Markets: Gaining Efficiency While Keeping an Eye on Distributive Justice * The Stories Hidden in the Words We Use: A Constructivist Analysis of Business Language as a Device for Cultural Encoding * The Institutional Requisites of Capitalism * Where Is the Research From Central and Eastern Europe? * Part II: Management Challenges of Privatization * Managerial Implications of the Transition From Public to Private Ownership in Central and Eastern Europe: Are Managers Equipped to Compete? * Comparing Privatization Characteristics in Former Communist, Developing, and Developed Countries * First-Rate Furniture Firm * Managerial Challenges During Organizational Re-Creation: Industrial Companies in the Czech Republic * Transformation and Marketing Developments in Skala of Hungary * Part III: Management Challenges of Entrepreneurship * Foreign Direct Investment Linkages and Entrepreneurial Development in Poland: Two Case Studies * Entrepreneurs in Post-Communist Russia * Critical Success Factors for Entrepreneurial Ventures * Part IV: Strategic and Operational Reorientation * Influences on Strategic Decision Making in the Romanian Banking Industry * Hungarian Enterprises: Marketing in Transition * Patent Protection for Central and Eastern Europe: Lessons From the West * Reactions to Organizational Structure: A Comparison of Employers in the United States and Bulgaria * Dual Restructuring: Survival of Newly Privatized Companies in Eastern Europe * Part V: Employees and Consumers in a New Context * Labor Relations and Policies in Hungary and Poland: Implications for Western Human Resource Managers * Russian Pay Practices, Preferences, and Distributive Justice Judgments: Implications for Joint Ventures * Life and Consumption Styles in the New Bundeslanders Five Years After the Collapse of the Berlin Wall * Epilogue: The Managerial Challenge in Transition Economies * Index

Privatization and Entrepreneurship: The Managerial Challenge in Central and Eastern Europe analyzes the challenges faced by managers in the transforming economies of Central and Eastern Europe and provides penetrating insights into the details of managing in the former socialist countries. This collection’s combination of conceptual/theoretical material with empirical, firsthand case analysis prepares Western managers for a more profitable and less stressful entry into these significant markets.