XXI Economic Forum
7-9, September 2011, Krynica-Zdrój
Corporate strategies after/during an economic crisis
Corporate strategies after/during an economic crisis
On September 8th – the second day of XXI Economic Forum in Krynica, Roland Berger Strategy Consultants organized a discussion panel on corporate strategies during and after an economic crisis. It was a basis of an interesting discussion concerning Polish companies' situation. During the meeting we tried to answer the question, if corporate strategies differ significantly depending on industry or ownership structure and to what extent EU member states' public debt crisis impacts corporate action. We analyzed if companies are back into investment mode and discussed, if Poland remains an attractive investment destination worldwide and also for other European countries.
Among panelists we were honored to guest:
- Jarosław Bauc – President of Management Board, General Director, Polkomtel S.A.
- Radosław Dudziński – Vice President for Strategy, Polskie Górnictwo Naftowe i Gazownictwo S.A.
- Przemysław Gdański – Board Member – BRE Bank S.A.
- Grażyna Henclewska – Under-Secretary of State, Ministry of Economy
- Jacek Jakub Niewęgłowski – Board Member for Strategy, P4 Sp. z o.o.
- dr Janusz Steinhoff – Deputy Prime Minister and former Minister of Economy
- Tomasz Suchański – Chief Executive Officer, Jeronimo Martins Dystrybucja S.A.
Krzysztof Badowski, Managing Partner of Roland Berger Warsaw Office opened the panel and described global and European markets situation, EURO crisis and financial markets volatility. This debate was devoted to crisis' influence on Polish companies situation and undertaken conclusions. Discussion was inspired by latest Roland Berger report on economy crisis that impacts corporate strategies: "Corporate Restructuring 2009 and 2010".
During the debate panelist- representatives of the Polish government and business, presented their view on repair strategies implementation and investments during the economic slow-down. Dr. Janusz Steinhoff presented historical macroeconomic perspective from 2008/2009 and analogies to current situation. "Media information show us bad news on Polish and global economy condition. (…) I am aware of many companies efficiency, that use this economy slow-down for profound restructuring, therefore I am positive about the future of Polish economy" – said Janusz Steinhoff.
Grażyna Henclewska, Under-Secretary of State in Ministry of Economy shared information regarding healthy and strong foundations of Polish economy. "Factors of economic growth are stable at the moment, that is why I am sure about current and next year GDP" – said Grażyna Henclewska.
Radosław Dudziński, Vice President for Strategy in PGNiG stated, that company with such a specific business and huge potential as PGNiG tries to concentrate on development. "Despite current situation on the market and uncertainty weather the economy is before or after crisis, PGNiG still invests and wants to develop Polish gas market" – said Radosław Dudziński. "I wouldn't overuse the word "crisis". So far we can expect only a slight growth slow-down, because we can observe the speed of growth and Polish corporations' expansion. Coming back to 2010, we increased our funds to PLN 2 billion, which allowed us to increase the number of granted loans and to develop corporate activity." – explained Przemysław Gdański, Board Member of BRE Bank.
Jarosław Bauc, President of Polkomtel S.A. presented an example of manager's position, who has prepared his company for sale during the economy crisis. "There is no universal measure that can be used in every company during the crisis. In 2008 and 2009 we were able to react fast enough, to avoid financial problems later on" – explained Jarosław Bauc.
Tomasz Suchański, Chief Executive Officer at Jeronimo Martins Dystrybucja, presented a story of an amazing success, development and growth example. "We look at the future rather in optimistic perspective and we are not planning to reduce headcount. We will spend PLN 1,5 billion on investments this year. According to that, we cannot clearly state that there is only one strategic solution in difficult times." – mentioned Tomasz Suchański
Jacek Niewęgłowski, Board Member for Strategy at P4, presented manager's point of view saying, that the government can stimulate economy expansion but just to a limited extent, and it also creates favorable conditions for business development. He discussed changes in Polish society, which is able to resign from telecommunication services just at the very end. "We can observe a change of tendency in consumer behavior. Times of recession taught the consumers to look at the tendency to saving not as being mean but as being resourceful." – said Jacek Niewęgłowski.
At the end of the discussion, Krzysztof Badowski related to economy situation that is based on knowledge and reassumed the meeting with a question, if Polish entrepreneurs would like to transfer anything to Ministry of Economy?
During the debate panelist- representatives of the Polish government and business, presented their view on repair strategies implementation and investments during the economic slow-down. Dr. Janusz Steinhoff presented historical macroeconomic perspective from 2008/2009 and analogies to current situation. "Media information show us bad news on Polish and global economy condition. (…) I am aware of many companies efficiency, that use this economy slow-down for profound restructuring, therefore I am positive about the future of Polish economy" – said Janusz Steinhoff.
Grażyna Henclewska, Under-Secretary of State in Ministry of Economy shared information regarding healthy and strong foundations of Polish economy. "Factors of economic growth are stable at the moment, that is why I am sure about current and next year GDP" – said Grażyna Henclewska.
Radosław Dudziński, Vice President for Strategy in PGNiG stated, that company with such a specific business and huge potential as PGNiG tries to concentrate on development. "Despite current situation on the market and uncertainty weather the economy is before or after crisis, PGNiG still invests and wants to develop Polish gas market" – said Radosław Dudziński. "I wouldn't overuse the word "crisis". So far we can expect only a slight growth slow-down, because we can observe the speed of growth and Polish corporations' expansion. Coming back to 2010, we increased our funds to PLN 2 billion, which allowed us to increase the number of granted loans and to develop corporate activity." – explained Przemysław Gdański, Board Member of BRE Bank.
Jarosław Bauc, President of Polkomtel S.A. presented an example of manager's position, who has prepared his company for sale during the economy crisis. "There is no universal measure that can be used in every company during the crisis. In 2008 and 2009 we were able to react fast enough, to avoid financial problems later on" – explained Jarosław Bauc.
Tomasz Suchański, Chief Executive Officer at Jeronimo Martins Dystrybucja, presented a story of an amazing success, development and growth example. "We look at the future rather in optimistic perspective and we are not planning to reduce headcount. We will spend PLN 1,5 billion on investments this year. According to that, we cannot clearly state that there is only one strategic solution in difficult times." – mentioned Tomasz Suchański
Jacek Niewęgłowski, Board Member for Strategy at P4, presented manager's point of view saying, that the government can stimulate economy expansion but just to a limited extent, and it also creates favorable conditions for business development. He discussed changes in Polish society, which is able to resign from telecommunication services just at the very end. "We can observe a change of tendency in consumer behavior. Times of recession taught the consumers to look at the tendency to saving not as being mean but as being resourceful." – said Jacek Niewęgłowski.
At the end of the discussion, Krzysztof Badowski related to economy situation that is based on knowledge and reassumed the meeting with a question, if Polish entrepreneurs would like to transfer anything to Ministry of Economy?
On the second day of Forum, there were 2 discussion panels, where Roland Berger's representatives were invited. The panel organized by PGNiG – "Polish and European gas market – shale gas impact". Maciej Korzeniowski, Partner in Roland Berger Warsaw Office was invited as a panel moderator. President of Management Board – Mr. Michał Szubski and Vice President Mr. Marek Karabuła hosted the conference. The representatives of main global energy companies were invited to discussion, including James Walcutt, Vice President of American company ENCANA International, David Loughman Vice President for Prospecting and Mining at Shell Norway and Peter Arp – Vice President of Sales for CEE at E.ON Ruhrgas AG.
Another interesting project in Krynica was a discussion panel that was organized by PKN Orlen, which also took place on the second day of Forum and was dedicated to the subject of: "Innovation. The source or consequence of Polish and European economy expansion". Marcus Berret, Partner at Roland Berger Stuttgart responsible for Automotive was invited to the discussion. As a leading subject of the conference was an attempt to define areas, in which companies should be innovative in post-crisis times. Panelists tried to determine the role of EU in creating politics and the right tools that help to create an innovating potential for European economy. They mentioned the government's strategy and actions that are focused on creating Polish economy innovation, new ideas and investments place in R&D in company business strategy. Among guests invited to the panel were: Jan Krzysztof Bielecki - President of the Economic Council of Prime Minister, Michał Boni – Head of Strategic Advisors Group of Prime Minister, Kyel Hodenfield – Vice President of Unconvetional Resources, Schlumberger. Jacek Krawiec -President of Management Board of PKN Orlen was hosting the conference.
