5. The financial crisis and BMS
Following the death of the company’s founder Tomas Bata in 1932, his half brother
Jan Antonin took over the firm. The Great Depression was a testing time for Bata, as
it was for practically all companies. The Bata story shows that corporate success is
possible even in the midst of an economic crisis and without government intervention
or support.
A clearly defined purpose and common interest supports a genuine cooperation
between owners, managers and employees, providing the resilience for the firm during
times of crisis. Basically there are two possibilities:
(i) “Passive macroeconomic reaction.” This includes lobbying, bribes, and the fashionable
and common “waiting for Godot”—i.e. waiting for various measures,
regulatory rules and financial help to come from the State (taxpayers and potential
customers).
(ii) “Active microeconomic reaction,” whereby the organization and management of
a firm are adapted to tackle the prevalent conditions of the crisis; looking for new