There's a saying that makes a lot of sense.
Personal effort is very important.
But the change of external environment might be the key to determining success.
The Serbian Steel Factory struggled to make money before, and there are reasons for it.
It wasn't so much related to the Serbian Steel Factory itself, but rather because further north, in Ukraine's Mariupol region, there was a larger plant with higher production and lower labor costs, known as the Mariupol Steel Plant, the largest steel plant in Europe.
This plant continuously supplied steel to the entire Europe.
If everything developed normally, the Serbian Steel Factory would never have been able to capture market share from the Mariupol Steel Plant.
But, how should I put it.
No matter how brilliant the business plan, it's not as good as having your competitor go bankrupt on the spot.
Just when Serbia was relying on minimal welfare to maintain the lowest level of operation...
The war started.
