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This paper develops a thesis, that the time orientation of enterprises connected with the type of culture (of the market or of the team) has an impact on their financial effects. Three times orientation centered at the past, the present and the future were considered as well as their impact on enterprise's activities in the sphere of organization, structure, management style and individual behavior of employees.The results of empirical research showed the relation between enterprise's time orientation and its form of ownership - on the one hand - and its efficiency - on the other.
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