This study explores the operation of the Treuhandanstalt, the trust agency responsible for implementing the massive privatization programme launched in the former East Germany in 1990. Created as a final attempt to reform and modernize the East German economy, the agency was at one time the largest holding company in the world. This book evaluates the level of satisfaction that stakeholder groups typically felt with regard to the agency, it actions and its achievements. The book: takes a stakeholder approach to organizational effectiveness; examines the cultural issues; emphasizes change management; looks at the private sector management approach applied to a government agency; and looks at the human side of economic transformation.