Behavioral Economics – an approach for business restructuring in times of crisis

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Behavioral Economics (BE) or Behavioral Economic Analysis is a relatively new tool, introduced in 2011 worldwide, promoted on the Romanian market by economic consultant Ionel Blănculescu and former detective and financial investigator Michael McNeir. Applied to companies, this concept reduces the negative effects and disruptions caused by any external crisis on internal operations.

Behavioral Economics is part of the “Business Recovery Operations” (BRO) concept, explains Ionel Blănculescu, founder of Blanc Alliance Public Affairs. According to him, the practice of BRO allows the organization – regardless of size – to return partially or completely to the pre-crisis situation and reduce its risks of loss and reputational cost, and with it to improve its operations while minimizing the elements that led to emergency.

At corporate level behavioral analysis is done in order to identify behavioral perspectives in the sphere of competition, in order to adapt the activity to the competitors, in order to obtain a competitive advantage. It consists of creating and sustaining superior performance, which identifies three strategies that businesses can use to address competition and create a sustainable competitive advantage, that is, that differentiating factor, financial or qualitative, perceived by the target audience as being superior to the competition.

In September of this year, the critical mass of the economic-financial crisis will be reached, both globally and in our country, Ionel Blănculescu

Ionel Blănculescu headed the Authority for the Recovery of Banking Assets (AVAB) in the 2000s. Michael McNeir is a trainer and consultant specializing in financial crime related to crime and terrorism financing, fraud, dirty money, money laundering and related with Art and the Property Market in London, as well as other areas of financial crime. A former detective and financial investigator at Metropolitan Police New Scotland Yard in the Homicide and Serious Crime Command investigating high-quality homicide investigations, Michael moved to Bucharest last year, where he joined Deloitte as a manager, before opening his own business – Forum Financial Advisory & Training Solutions SRL.

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