Objective This paper aims to analyze the current situation of Ferox and make recommendations regarding the strategy and the action plan to be followed in order to cope with change. Overview In October 1991, a public announcement was made, regarding the privatization plan of Ferox, a Czechoslovak gas and chemical company located in a northeastern industrial city near the German border. The privatization proposed project was stipulating the following: - 3 % of shares - set aside as …showed first 75 words of 3749 total…

…showed last 75 words of 3749 total…receive superiors' feedback. Notes 1.<Tab/>In order to reach the objectives, Ferox management needs not only to think the strategy, but also get involved in implementing it and to monitor all the steps of change. 2.<Tab/>The objectives have to be followed, but we should understand that they are flexible. A permanent monitoring may imply in some cases reviewing the initial process and/or objectives when necessary.