The business crisis - which has always been the subject of national and international studies and discussions - represents a topic of high interest, especially in today's turbulent socio-economic environment of sudden and unpredictable changes. Being able to catch the symptoms of the crisis in advance is therefore a must: at the level of individual companies, as well as at the economic level at large. It is from these considerations that this research project was launched, which aims to study the phenomenon of the crisis from a corporate point of view, convinced as we are that it is a physiological phase of "doing business," an integral part of its life cycle, which requires appropriate managerial efforts. Essential is being able to recognize the signs of crisis "on time" in order to intervene with the necessary corrective actions. In this paper, we have approached the topic of "crisis" from two different perspectives: corporatist and legal. In the corporatist field, we have delved into some established models in the literature concerning business diagnosis, which we have reworked from the perspective of crisis management. We refer, in particular, to the Entrepreneurial Formula and the SECI model, concerning the creation and practice of knowledge. To these we have added the representation of the Balanced Scorecard, a crucial tool in translating strategy into action, paying attention to its internal aspects and relations with the environment, analyzed from a quantitative and qualitative perspective. It is by drawing on these models that we have developed a management model, which we believe is functional for early crisis forecasting. The same is centered on the three axes: strategy, knowledge and action. Starting point is a strong strategy, based on wise management of knowledge. In this area, essential elements - to be located at the center of entrepreneurial management - are corporate culture and people. It is on these two pillars that the Balanced Scorecard is based, developed to represent the ways in which an enterprise can generate and practice knowledge, the basis and "engine" for the development the other management dimensions of the enterprise. Turning to the legal perspective, the regulatory evolution regarding crisis was outlined, illustrating the tools offered by the legislature to companies to stimulate them to detect its onset early and identify viable solutions to resolve it. Particular reference is made to the introduction of the new Business Crisis and Insolvency Code, which came into force in our legal system on July 15, 2022. In particular, the two tools investigated are the new adequate arrangements and the institution of negotiated crisis resolution, compared with the original system of alert and assisted crisis resolution, adopted in the original reform of January 2019 . In the last part of the thesis, the developed corporatist model is used to analyze the solutions proposed by the legislature; the aim is to answer the basic question underlying this paper, which concerns the effectiveness of the new tools offered by the legislature to detect a crisis early: The answer is negative. Although the new legal instruments represent a great revolution, a break with the past, they have some limitations and criticalities in that - although they are marked by a managerial approach of business crisis management, they are not able to prevent it early.

La crisi d’impresa - da sempre oggetto di studi e dibattiti a livello nazionale e internazionale – rappresenta un argomento di grande interesse, soprattutto nel turbolento contesto socio-economico odierno, caratterizzato da repentini e imprevedibili cambiamenti. Riuscire a cogliere in anticipo i sintomi della crisi costituisce quindi un must: a livello delle singole imprese, così come a livello economico at large. È prendendo spunto da queste considerazioni che si è avviato questo progetto di ricerca, che vuole studiare il fenomeno della crisi dal punto di vista aziendalistico, convinti come siamo che trattasi di una fase fisiologica del “fare impresa”, parte integrante del suo ciclo vitale, che richiede appositi sforzi gestionali. Essenziale è saper riconoscere i segnali di crisi “in tempo utile” per poter intervenire con le necessarie azioni correttive. Nel presente lavoro abbiamo affrontato il tema “crisi” secondo due diverse prospettive: aziendalistica e giuridica. In ambito aziendalistico, abbiamo approfondito alcuni modelli consolidati in letteratura riguardanti la diagnosi aziendale, che abbiamo rielaborato nella prospettiva della gestione della crisi. Facciamo riferimento, in particolare, al modello della formula strategica e al modello SECI, riguardante la creazione e la pratica della conoscenza. A questi abbiamo affiancato la rappresentazione della Balanced Scorecard, strumento cruciale nel tradurre la strategia in azione, prestando attenzione ai suoi aspetti interni e ai rapporti con l’ambiente, analizzati dal punto di vista quantitativo e qualitativo. È attingendo a questi modelli che abbiamo elaborato un modello gestionale, che riteniamo funzionale a una previsione tempestiva della crisi. Lo stesso si incentra sui tre assi: la strategia, la conoscenza e l’azione. Punto di partenza è una strategia solida, fondata su una gestione saggia della conoscenza . In questo ambito, elementi essenziali – da situare al centro della gestione imprenditoriale – sono la cultura aziendale e le persone. È su questi due pilastri che si basa la Balanced Scorecard, sviluppata per rappresentare le modalità con cui un’impresa può generare e praticare conoscenza, base e “motore” di avviamento delle altre dimensioni gestionali dell’impresa. Passando alla prospettiva giuridica, si è tratteggiata l’evoluzione normativa riguardante la crisi, illustrando gli strumenti offerti dal legislatore alle imprese per stimolarle a rilevarne con tempestività l’insorgere e a identificare valide soluzioni per risolverla. Si fa riferimento, in particolare, all’introduzione del nuovo Codice della Crisi d’Impresa e dell’Insolvenza, entrato in vigore nel nostro ordinamento giuridico il 15 luglio 2022. In particolare i due strumenti indagati sono i nuovi adeguati assetti e l’istituto della composizione negoziata della crisi, messi a confronto con l’originario sistema di allerta e composizione assistita della crisi, adottati nella riforma originaria del gennaio 2019 . Nell’ultima parte della tesi, si ricorre al modello aziendalistico sviluppato per analizzare le soluzioni proposte dal legislatore; l’obiettivo è rispondere alla domanda di fondo alla base del presente lavoro, che riguarda l’efficacia dei nuovi strumenti offerti dal legislatore per rilevare precocemente una crisi: La risposta è negativa. Nonostante i nuovi strumenti giuridici rappresentino una grande rivoluzione, un momento di rottura rispetto al passato, presentano alcuni limiti e criticità in quanto – nonostante siano contraddistinti da un approccio manageriale della gestione della crisi d’impresa, non sono in grado di prevenirla tempestivamente.

(2024). Diagnosi precoci delle crisi d’impresa: obiettivo raggiunto dall’evoluzione normativa? Un’analisi aziendalistica . Retrieved from https://hdl.handle.net/10446/269990 Retrieved from http://dx.doi.org/10.13122/fajoui-houda_phd2024-05-03

Diagnosi precoci delle crisi d’impresa: obiettivo raggiunto dall’evoluzione normativa? Un’analisi aziendalistica

FAJOUI, Houda
2024-05-03

Abstract

The business crisis - which has always been the subject of national and international studies and discussions - represents a topic of high interest, especially in today's turbulent socio-economic environment of sudden and unpredictable changes. Being able to catch the symptoms of the crisis in advance is therefore a must: at the level of individual companies, as well as at the economic level at large. It is from these considerations that this research project was launched, which aims to study the phenomenon of the crisis from a corporate point of view, convinced as we are that it is a physiological phase of "doing business," an integral part of its life cycle, which requires appropriate managerial efforts. Essential is being able to recognize the signs of crisis "on time" in order to intervene with the necessary corrective actions. In this paper, we have approached the topic of "crisis" from two different perspectives: corporatist and legal. In the corporatist field, we have delved into some established models in the literature concerning business diagnosis, which we have reworked from the perspective of crisis management. We refer, in particular, to the Entrepreneurial Formula and the SECI model, concerning the creation and practice of knowledge. To these we have added the representation of the Balanced Scorecard, a crucial tool in translating strategy into action, paying attention to its internal aspects and relations with the environment, analyzed from a quantitative and qualitative perspective. It is by drawing on these models that we have developed a management model, which we believe is functional for early crisis forecasting. The same is centered on the three axes: strategy, knowledge and action. Starting point is a strong strategy, based on wise management of knowledge. In this area, essential elements - to be located at the center of entrepreneurial management - are corporate culture and people. It is on these two pillars that the Balanced Scorecard is based, developed to represent the ways in which an enterprise can generate and practice knowledge, the basis and "engine" for the development the other management dimensions of the enterprise. Turning to the legal perspective, the regulatory evolution regarding crisis was outlined, illustrating the tools offered by the legislature to companies to stimulate them to detect its onset early and identify viable solutions to resolve it. Particular reference is made to the introduction of the new Business Crisis and Insolvency Code, which came into force in our legal system on July 15, 2022. In particular, the two tools investigated are the new adequate arrangements and the institution of negotiated crisis resolution, compared with the original system of alert and assisted crisis resolution, adopted in the original reform of January 2019 . In the last part of the thesis, the developed corporatist model is used to analyze the solutions proposed by the legislature; the aim is to answer the basic question underlying this paper, which concerns the effectiveness of the new tools offered by the legislature to detect a crisis early: The answer is negative. Although the new legal instruments represent a great revolution, a break with the past, they have some limitations and criticalities in that - although they are marked by a managerial approach of business crisis management, they are not able to prevent it early.
3-mag-2024
34
2020/2021
ECONOMIA E DIRITTO DELL'IMPRESA (BUSINESS & LAW)
BORDIGA, Francesco
CORNO, FABIO
Fajoui, Houda
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10446/269990
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