ABSTRACT
This chapter attempts to understand the political and economic changes that occurred in Czechoslovakia after the November 1989 revolution. It discusses the management system and the general political and economic environment prior to November 1989. The chapter describes the changes made after 1989. It discusses the management system and its environment as it prevailed in November 1991. Unique to Czechoslovak unions is that they owned property. Much of this was resort property in Czechoslovakia and abroad. Czechoslovakia had the healthiest economy among Eastern bloc countries. The legal system in Czechoslovakia was patterned after the normative law of Western Europe rather than after US common law. The state of Czech technology was acceptable but fell far below Western European standards. The implementation of the economic transformation concept had a significant impact on the economy and industry of Czechoslovakia. Foreign investors were showing a great deal of interest in investing in Czechoslovakia.
