Influence of strategies to determine the significance of the crisis by the managers of small and medium-sized enterprises

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60076658%3A12510%2F17%3A43895976" target="_blank" >RIV/60076658:12510/17:43895976 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Influence of strategies to determine the significance of the crisis by the managers of small and medium-sized enterprises

Original language description

Small and medium-sized enterprises play an important role in the European economy as a source of entrepreneurial skills, innovation and employment. Strategic management is vital for long-term competitiveness of these organizations, and even more significant when struggling with a crisis. Enterprises with strategic management are able to look into their future and their managers are able to recognize upcoming issues in advance so they are much better prepared for them. Crisis is then perceived as a phenomenon which is more common than rare. It is therefore essential that businesses reflect the aspects and impacts of the crisis in a corporate strategy and managers learn to manage crises effectively. The article deals with a partial research of the management of small and medium-sized enterprises in the Czech Republic. It is focused on defining a strategy by the managers of these organizations and the assessment of the significance of crises. Only about 25% of the companies formulated a strategy for the future direction of the organization. The crises happen in all organizations, varying in degrees and intensity. The importance of crisis is evaluated by the managers by an average rate of 3.4 (where the highest rate was five). The aim of the article is an assessment of the importance of crisis as seen by the managers in strategically managed organizations structured according to sectors of the economy. For primary data collection, the questionnaire method was used.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Serbian Journal of Management

ISSN

1452-4864

e-ISSN

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Volume of the periodical

12

Issue of the periodical within the volume

1

Country of publishing house

RS - THE REPUBLIC OF SERBIA

Number of pages

11

Pages from-to

53-63

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85018266915