Turkish companies this is a living example of Darwin’s saying that he wants those who do not adapt to conditions and changes to die out. And while Western businesses are now recovering from the highest inflation they’ve experienced in decades, many of their Turkish counterparts are doing better with a tenfold increase in prices, according to a related article in a British newspaper. Financial Times.

The neighboring country has weathered several crises in recent years, but the economy continues to grow thanks to a combination of cheap credit, diversification and shrewd corporate governance honed by the experience of recent shocks. “It’s difficult, but we’ve experienced it in Turkey,” said a top manager from one of the country’s largest manufacturers. “We kind of know how to support the customers, the dealer network, so that they continue their business in an environment of high inflation,” he added, noting that his company managed to set a price so that it covered its costs and did not discourage customers. . . . Charlie Robertson, chief economist at investment bank Renaissance Capital, said Turkish business has experienced “mild and violent upheavals, sustained triple-digit inflation and multiple currency crises” over the past 25 years.

One of the many problems for the management of Turkish companies is the salaries of employees, given the decline in purchasing power. Inflation in August exceeded 80%. When prices began to rise last summer, Mustafa Tonguk, managing director of DHL Express in Turkey, compiled a list of costs for 50 major products and compared them with their counterparts in Germany to convince the parent company to raise prices. its 1100 employees. This year he raised them three more times. “We as businesses cannot fix the global economy, but we can take care of our people,” he said.