Industry Resilience to Change

The Analysis of Panevėžys Region Industry Resilience to Change

The study is intended to implement the project of the European territorial cooperation goal "Interreg Europe" program called "Building Regional Resilience to Industrial Structural Change – FOUNDATION." The study's objective is to assess Panevėžys region industry resilience to the risks of external factors and draw guidance on the tools, which would help increase the resilience to structural change.

In the study, the economic development of Panevėžys region during the past 15 years is being reviewed, impacting structural shocks and after-effects for Panevėžys region companies, which had the greatest impact on Lithuanian industry, is being analyzed. The analysis mainly focuses on for main sectors of Panevėžys region industry: food products and beverages, furniture, transport, and its equipment, metal, and the production of metal products sectors.  To closely assess the possible impact of structural shocks for the region, an analysis of a concrete case – one of the biggest regions' company' "Ekranas" operating during 1664 – 2006 bankruptcy and its consequences – has been performed.

In surveys of manufacturing companies' managers, external factors that currently pose the biggest risk are identified. Likewise, companies' resilience to these risks is the subject to assessment, companies’ activities week aspects creating assumptions for manufacturing companies to be negatively affected by the risk posing external factors, and their most likely consequences are being defined. The tools used in Lithuania to promote entrepreneurship and competitiveness of manufacturing companies are being identified. Considering the survey data, the effectiveness of those tools is discussed; likewise, it is defined what additional tools could serve regions business when preparing to withstand different risk posing factors.

The study is being summarized by providing decision-makers with advice on improving the current tools of business support, which could increase Panevėžys region resilience to structural shocks.

THE ANALYSIS OF PANEVĖŽYS REGION INDUSTRY RESILIENCE TO CHANGE