Tiberiu Moisă, Deputy General Manager for SMEs & Mid-Market, Banca Transilvania, attended the the Best Managed Companies Romania Gala, an event organized by Deloitte Private that annually highlights lessons in leadership, strategy, and governance from the Romanian entrepreneurial sector.

During the gala, Deloitte awarded the Best Managed Companies certification, a distinction granted in accordance with an international methodology that evaluates four pillars: strategy, culture, innovation-resources, and governance. 

We have revisited some of the premises with which we began this edition a few months ago.
 

ABOUT ADAPTABILITY 

• "Adaptability" is a word we use all the time; we've all overused it. We thought we’d be done with it by 2020, but we had to use it in 2021 and 2022 as well, and ever since then, we’ve been talking about adaptation every year. People adapt, and we see this—probably according to their capabilities, experience, and individual skills. We always think of 2020 as the year it all began, but it was a series of consecutive years that forced us all to go through a school we didn’t intentionally seek out, but which was very real: the school of adaptability.
  
  
• Strategy, which generally refers to the idea of having a guiding principle—one that involves solving critical problems while simultaneously seeking opportunities for development and growth—has become more flexible in recent years. You cannot adapt to a constantly changing context, to shocks that arise and that you cannot anticipate, unless you have this ability to pivot, to adjust the common thread you have so that it fits your own context. From this perspective, adaptation is the order of the day. 
  
  
• Adaptation alone isn’t enough; it helps you survive, but it doesn’t necessarily lead to growth. We’re looking for other things as well: we need to keep growing, and we need capital. We probably also need more courage, especially when we’re trying to expand our business internationally.
  
  
• In these ever-changing times, entrepreneurs likely find it difficult to make long-term plans; however, it is entrepreneurs who inspire our optimism, and optimism breeds confidence. Optimism and confidence, in our view, are the most valuable lessons. In addition to these, we strive to develop all other elements related to resource management, discipline, and a balanced approach to decision-making.
   

CRITICAL COMPONENTS 

• What really matters is actually understanding how well-prepared companies are, or why some are better prepared than others. Then you come back to the issues of adaptability and balance, and you see a certain way of making decisions and responding to new developments. In fact, you always come back to people and their skills , and for me, skills are the key to everything we see around us, whether it’s the public sector or the private sector. 
  
  
• It all depends on the skills possessed by the people who make decisions. And these skills don’t appear overnight; they stem from education in all its forms. You can’t do it without competent people; it’s not enough to have dedicated, energetic people with a good attitude—you need competent people. From our perspective, you can only move forward when you take this into account. One of the structural issues we need to improve or address in Romanian society concerns the competencies of the people who make decisions.  
  
  
• At the same time, we believe that the financing instruments available toRomanian businesses must evolve and go far beyond the concept of traditional bank financing. All types of instruments related to capital— everything related to stimulating capital accumulation—and by capital we do not mean only that which comes from abroad, but also the way in which firms capitalize their own businesses—actually address a structural deficiency in our economy. 
  
  
• These are the two tools, aside from bank financing, that could serve as a fantastic lever for growth: skills and better access to capital accumulation. To me, these two components seem critical to whatever we want to build going forward.