Crisis Heritage Management_3.0.doc (165 kB)
Working Paper: Crisis' Heritage Management - New Business Opportunities Out of the Financial Collapse
This paper intends to present the opportunities emerging for the national economy, out of the financial
crisis. In particular the management of those, which arise from the commercial
real estate owned property sector, defined by the author as a „crisis’
heritage management”. On
one hand, as real estate property prices are subject of wide fluctuations, the longer
possession of such assets can seriously impact the financial condition of the
already shattered financial institutions, but on the on other, with the help of
professional and proactive management and the right kind of attitude by all the
stakeholders, the „heritage”, left out
of the financial collapse, can not only help stabilize the system - bringing
liquidity into it, but can also support its healthy corporate governance in the
long-term. The properties themselves (business
buildings, warehouses, retail- and office spaces), being an object of
optimization of maintenance costs, reengineering, intensive marketing, as a
result of the crisis, can serve as a solid base for number of new and profitable
business and investment opportunities, described in the present article, as a
proof of the healing effect of the financial crisis and the „second chance” it gives.