Socially Sensitive Enterprise Restructuring in Asia: Country Context and Examples

Growing competition and globalization force business organizations to strive for greater efficiency and cost-effectiveness. In many cases, the desired results cannot be achieved without subjecting corporate strategies and structures to transformation. In this context, restructuring is no longer an option but a necessity for survival and growth. However, it is in the interest of society that restructuring be carried out in such a way that it does not jeopardize the high value of human capital. Good management practices, social partnerships, communication, and healthy industrial relations should be applied throughout the change process. This brings to the fore the issue of socially sensitive restructuring. The need for this is crucial for enterprises in Asian economies.

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