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Assessing the Impact of the Current Financial and Economic Downturn on the Textile and Apparel Industry in Poland

General problems of the fibre and textile industries

Author:

  • Pomykalski Przemysław
    Department of Management Systems and Innovation, Faculty of Organization and Managementme, Technical University of Lodz, Łódź, Poland

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Abstract:

In the long run a company can outperform rivals only if it can identify and establish a difference that it can preserve; in the short and medium run managers need to respond to a changing environment to preserve its growth capacities and exploit opportunities. Both external and internal factors affect the financial standing of companies operating in the textile sector. The current, extended economic downturn is slowly changing the environment. Managers need to take that into account by making appropriate changes in strategy and operations. In this study the author provides an analysis of economic and financial changes and an assessment of their impact on Polish textile companies. The article focuses on managers’ response to current changes resulting from the financial crisis and on-going changes in increasingly competitive markets.

Tags:

textile industry, apparel, management, financial analysis, crisis.

Citation:

Pomykalski P. Assessing the Impact of the Current Financial and Economic Downturn on the Textile and Apparel Industry in Poland. FIBRES & TEXTILES in Eastern Europe 2013; 21, 5(101): 13-18.

Published in issue no 5 (101) / 2013, pages 13–18.

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