Methodology for Strategic Posture Determination of SMEs

Borocki, Jelena; Radišić, Mladen; Sroka, Włodzimierz; Greblikaitė, Jolita; Androniceanu, Armenia

doi:10.5755/j01.ee.30.3.21966

Cited by 28 publications

(20 citation statements)

References 40 publications

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“…The outbreak of the pandemic in 2020 affected the change in the perception of business risk and its management [ 57 , 58 ]. In most countries, in order to sustain the activity of enterprises, various types of financial tools are used, the task of which is to finance a part of, or all the costs incurred due to suspension, closure or slowdown in the operations of enterprises [ 59 ].…”

Section: Literature Reviewmentioning

confidence: 99%

Risk Assessment of the SME Sector Operations during the COVID-19 Pandemic

Grondys

Ślusarczyk

Hussain

et al. 2021

IJERPH

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The subject matter of the article relates to the assessment of the perception of selected types of risk in economic activities of the SME sector, which change their intensity as a result of the outbreak of the COVID-19 pandemic. The current economic downturn is unprecedented and involves many companies and industries that have faced new, previously unknown challenges and threats. The objective of the article is to identify the most important risks and their resources based on the empirical research carried out in small and medium-sized enterprises in Poland. The formulated objective was accomplished using the data collection method, i.e., the survey and reports on the condition of the SME sector in Poland as well as statistical data analysis methods, i.e., structure index and the analysis of variance, using the SPSS system. The process of primary data collection was carried out by means of an electronic survey among selected enterprises of the SME sector, conducting business activities in Poland. In the study, the employment factor was taken into account as a determinant of the perception and assessment of the intensity of selected risks arising from the economic activity in the Polish market in the conditions of the current economic downturn. On the basis of the obtained results, the impact of market, economic, financial and operational risks, depending on their intensity, on the functioning of micro-, small and medium-sized enterprises was identified. Based on the analysis of variance, the effect of the size of the company on the level of individual risks was also examined. As a result of the observations made, it was established that, during the pandemic, the level and type of risk is similar in all the surveyed enterprises. They are most often threatened by strong competition in the industry, an increase in energy prices and insufficient profit. The overall results of the empirical research indicate the importance and the need to manage the key threats to the Polish SME sector.

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Section: Literature Reviewmentioning

confidence: 99%

Risk Assessment of the SME Sector Operations during the COVID-19 Pandemic

Grondys

Ślusarczyk

Hussain

et al. 2021

IJERPH

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“…The system architecture of big data in sustainable smart manufacturing can be harnessed to streamline the elaborate network management environment, to set out the intricate processes of lifecycle data sharing and input interoperability, and to regulate the soundness of artificial intelligence-based decision-making algorithms [5,14,17,18,25,[71][72][73][74][75][76] leading to big data-driven innovation in sustainable Industry 4.0. Cutting-edge technologies can be deployed for controlling the coherence and sustainability of the smart manufacturing systems by supplying well-grounded data and significant insights.…”

Section: Sustainable Organizational Performance In Cyber-physical Smart Manufacturing Systemsmentioning

confidence: 99%

Sustainable, Smart, and Sensing Technologies for Cyber-Physical Manufacturing Systems: A Systematic Literature Review

et al. 2021

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With growing evidence of the operational performance of cyber-physical manufacturing systems, there is a pivotal need for comprehending sustainable, smart, and sensing technologies underpinning data-driven decision-making processes. In this research, previous findings were cumulated showing that cyber-physical production networks operate automatically and smoothly with artificial intelligence-based decision-making algorithms in a sustainable manner and contribute to the literature by indicating that sustainable Internet of Things-based manufacturing systems function in an automated, robust, and flexible manner. Throughout October 2020 and April 2021, a quantitative literature review of the Web of Science, Scopus, and ProQuest databases was performed, with search terms including “Internet of Things-based real-time production logistics”, “sustainable smart manufacturing”, “cyber-physical production system”, “industrial big data”, “sustainable organizational performance”, “cyber-physical smart manufacturing system”, and “sustainable Internet of Things-based manufacturing system”. As research published between 2018 and 2021 was inspected, and only 426 articles satisfied the eligibility criteria. By taking out controversial or ambiguous findings (insufficient/irrelevant data), outcomes unsubstantiated by replication, too general material, or studies with nearly identical titles, we selected 174 mainly empirical sources. Further developments should entail how cyber-physical production networks and Internet of Things-based real-time production logistics, by use of cognitive decision-making algorithms, enable the advancement of data-driven sustainable smart manufacturing.

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“…The current problems of management and entrepreneurship in family businesses were addressed by several domestic and international authors. They addressed the legislative (Pathak, 2013;Sirotka, 2018;Peracek, 2019), economic (Srovnalikova & Pekarskiene, 2015;McKelvie et al, 2017;Machek, 2019;Kozubíková et al, 2020;Prokopenko et al, 2020), managerial (Sciascia & Mazzola, 2008;Borocki et al 2019;Belas, 2020;Ingram et al, 2020) or financial (Vieira, 2013;Hudakova et al, 2018;Musa et al, 2019;Anyakoha, 2019;Kotaskova et al, 2020) aspects of managing a specific forms of small and medium-sized businesses, the family enterprises.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Innovations and Marketing Management of Family Businesses: Results of Empirical Study

Mura

2020

IJEK

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During pandemic and economic crises, business units are under constant pressure and face many challenges to find solutions for. Family businesses form a significant segment of the business sector. Competition and the current crisis force businesses to find solutions for sustainable entrepreneurship. Family businesses are gradually consolidating their position in the business environment, especially by introducing a personal approach to the customer (pro-customer orientation) and innovative activities. The concept of innovative marketing (INMARK) represents businesses' opportunity to establish themselves on the market more successfully than their competitors. This work aimed to verify the possibility of applying the concept of INMARK in the segment of small and medium-sized enterprises of family type as an innovative form of marketing management during the crisis. In addition to theoretical approaches, we rely on empirical data obtained by quantitative research in the business environment. In methodological terms, we applied hypothesis testing. As a part of the applied methodology, we verified the applicability of the INMARK concept in the real business environment. Based on the research results obtained, we can conclude that the pillars of the INMARK concept (product innovation, active application of marketing activities) have a positive response among the representatives of the younger generation of family business management, which can contribute to the successful management of these specific business units.

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Methodology for Strategic Posture Determination of SMEs

Cited by 28 publications

References 40 publications

Risk Assessment of the SME Sector Operations during the COVID-19 Pandemic

Risk Assessment of the SME Sector Operations during the COVID-19 Pandemic

Sustainable, Smart, and Sensing Technologies for Cyber-Physical Manufacturing Systems: A Systematic Literature Review

Innovations and Marketing Management of Family Businesses: Results of Empirical Study

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