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Magazine article (E&M - 2020/4) Lojacono Gabriella

The World of Luxury is No Longer the Same (Which is Good)

The luxury sector is facing some important strategic challenges: the increase of production volumes and the improvement of profitability; the new management of sales offers; the compromise between exclusiveness and inclusiveness of its products; the difficulty of exceeding expectations when standards are already very high; and the country of origin as a lever for expansion at the international level. ...

Magazine article (E&M - 2020/4) Perugini Mario

Aggregate Demand is the Italian Problem

Between 1992 and 2018, the Italian economy saw a worrying slowdown of growth of aggregate demand, due above all to the significant contraction of private and public consumption. In the same period, Italy has been among the European countries that have made the greatest effort to reduce protections for insecure workers, leading to an exponential increase of workers with fixed-term contracts.#From a ...

Magazine article (E&M - 2020/4) Corbellini Erica, Saviolo Stefania

How the Fashion World Must Re-think its Fundamentals

The pandemic has had a devastating impact on the international fashion system, already weighed down by various structural problems: from the excess of supply to the opacity of supply chains, aggravated and made more evident during the months of the lockdown. The crisis can be an opportunity for Italian suppliers who can offer specialization, flexibility, and high quality standards certifiable in terms ...

Magazine article (E&M - 2020/4) Perretti Fabrizio

Business-Labor: Equal Status and Common Planning

The pandemic has highlighted the fragilities and deep inequalities that characterize the current economic system. At the same time, a process has begun that requires a profound change, the participation of workers in business decisions. Fifty years after Italy's "Workers' Statute" was passed, the time has come to define a new statute that guarantees the same rights and protections, independent of ...

Magazine article (E&M - 2020/4) Reyneri Emilio

Four Possible Destinies for Labor Unions

Since the end of the 1970s, in almost all European countries the generational shift in the world of labor has caused a drop in the levels of unionization. Many factors have contributed to this decline, related to both the market and the organization of work. Deindustrialization, polarization of professional structures, and the increase of immigrant workers risk undermining the social cohesion between ...

Magazine article (E&M - 2020/4) Berta Giuseppe

All of the Doubts and Challenges within Confindustria

The representation of business interests is more difficult today than in the past, due to processes of differentiation of the system of businesses. In a nation like Italy, though, representation has a greater presence, because economics and politics are more interwoven than elsewhere. For decades Confindustria had a role of stable representation thanks to the strong political legitimation earned after ...

Magazine article (E&M - 2020/4) Colella Francesca

How and Why Solitude is Growing among Insecure Workers

At the end of 2019, the total number of insecure workers in Italy was 3.123 million, a figure that has certainly been aggravated by the explosion of the pandemic in the early months of 2020. The general weakening of labor unions can be attributed, on the one hand, to the reduction of demand for labor in sectors where they were traditionally the strongest (services); and on the other, to the changes ...

Magazine article (E&M - 2020/4) Del Chicca Andrea, Mancini Alessandro

A New Model of Co-Responsibility

In recent months, the company committees created to combat the spread of the COVID-19 virus and to ensure business continuity have created a new model of co-responsibility between businesses and employees. This is a form of collaboration that labor unions could also adopt in the future, extending it to broader perimeters of bargaining.#A new level of participation of unions in the life of organizations ...

Magazine article (E&M - 2021/2) Amatori Franco

Nationalizations and Privatizations from a Historical Perspective

In Italy, the mixture between public and private has been an unavoidable characteristic in the nation's path of economic modernization. Between the nineteenth and twentieth centuries, state initiative gave concrete form to the unification of the country, providing indispensible infrastructure. The companies in the IRI group were then the protagonists of the "economic miracle," in which the attitude ...

Magazine article (E&M - 2021/2) Conti Cesare

The Management of Financial Risks in Private Equity Funds

The management of financial risks in private equity (PE) funds aims to protect the internal rate of return (IRR) expected from investment in PCs due to unexpected variations in interest rates and exchange rates. The protection of the IRR requires a coordinated intervention on EBITDA, the EV/EBITDA multiple, and NFP.#The concrete possibility of planning and implementing financial risk management depends ...