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Serbian
Journal of Management
2017,
vol. 12, iss. 1, pp. 53-63
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Influence
of strategies to determine the significance of the
crisis by the managers of small and medium-sized enterprises
Jaroslav
Vrchota and Petr Rehor
University
of South Bohemia in Česke Budějovice, Česke Budějovice, Czech Republic
e-mail: vrchota@ef.jcu.cz
Abstract
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.
This Work is licensed under a Creative Commons Attribution 4.0 License. Keywords
Strategy,
crises, management, small and medium-sized enterprises, sectors of the
national economy
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