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As 1992 approaches, European executives are taking a more critical view of the organisational restructuring which will be necessary in many European enterprises. The four main areas which will have an effect on the European business environment are: (1) a “free market”in standards, (2) elimination of border restrictions, (3) new competition in public procurement, and (4) moves towards financial integration. In response four broad managerial guidelines emerge and are discussed in detail: (1) rethink European strategy, (2) examine and implement restructuring opportunities, (3) build Europe‐wide management,and (4) increase political sensitivity and action capability.

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