Family businesses respond differently to crisis situations

By: Trademagazin editor Date: 2020. 07. 13. 11:23

Strategic thinking largely determines the response of firms to a crisis situation and the success of recovering from an economic shock. This year’s five-year old K&H Family Companies Excellence Award therefore awaits exemplary strategic solutions to the challenges of the coronavirus pandemic until 31 August 2020, in order to inspire other family businesses with success stories.

Not only Hungarian companies were affected by the pandemic in different ways by different sectors, as there were sectors that virtually came to a standstill, while others saw a pick-up in demand, but there are also significant differences in their preparedness to deal with the situation.