Strategic Orientation of SMEs: Empirical Research

Minović, Jelena; Lazarević-Moravčević, Marija; Beraha, Isidora

doi:10.7595/management.fon.2016.0026

Cited by 4 publications

(4 citation statements)

References 33 publications

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“…In line with the findings of a previous study (Minovic et al, 2016), product innovation dominated SME advancement. As (Awwad & Almahamid, 2008) disclosed, production flexibility emerged as a strategy focusing on product excellence, such as design innovation, creating a shorter product life cycle, adopting a change strategy, and overcoming uncertainties such as technology, customer demand, and expectations.…”

Section: Flexible-product-focused Short-term Oriented and Resilient S...supporting

confidence: 91%

“…These two strategies could significantly impact business performance (Dutse & Aliyu, 2018). Combining these two strategies could be accomplished for SMEs by creating medium-quality products at a lower price than competitors (Minovic, Lazarevic -Moravcevic, & Beraha, 2016). In general, processed cassava products had a downward market share, causing the selling price to be one of the tools to win the competition.…”

Section: Testing the Variable Suitabilitymentioning

confidence: 99%

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Strategic Orientations to Strengthen Policymaking: Study of Small-Scale Cassava-Based Agroindustry in Central Java, Indonesia

Kusnandar

Setyowati

Rahayu

2023

J AGRIB RURAL DEV RES

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The cassava agroindustry is an essential part of the food sub-sector, and as it provides economic benefits for business actors from upstream to downstream. The development of the industry has been focused on aspects of cultivation, whereas the aspects of processing, marketing, management, and business innovation also need support. This study aims to formulate strategic orientations of SMEs in developing cassava-based agroindustry. This exploratory study was conducted on SMEs in the agroindustry with products made from cassava. A total of 115 SMEs in Central Java Province were taken as samples using stratified random sampling. Factor analysis was performed with the Principle Component Analysis (PCA). The strategic orientations covered product focus and short-term orientation to survive; market knowledge and flexibility; long-term orientation for market penetration or development; product development innovation to create differentiation; and reactive strategy orientation for stability. These five aspects should be considered to win the competition, build a competitive advantage, and face changes in the business environment. However, implementing them required the commitment of cassava-based SMEs, government support, and the development of collaboration with larger industries. Thus, the strategic orientations could be applied as a regional policy to improve the business performance in the cassava agroindustry in Central Java.

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Section: Flexible-product-focused Short-term Oriented and Resilient S...supporting

confidence: 91%

Section: Testing the Variable Suitabilitymentioning

confidence: 99%

Strategic Orientations to Strengthen Policymaking: Study of Small-Scale Cassava-Based Agroindustry in Central Java, Indonesia

Kusnandar

Setyowati

Rahayu

2023

J AGRIB RURAL DEV RES

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“…Source: Global Innovation Index SMEs are vital for Serbian economy. According to Minovic et al (2017), SMEs are focused on costs as a source of competitive advantage, but they are innovation-oriented. Middle size enterprises are oriented to process innovations, while small size enterprises are focused on product innovations.…”

Section: Economic and Cluster Development In Eu Candidate Countriesmentioning

confidence: 99%

Knowledge and industry clusters as drivers of economic development and competitiveness

Jednak¹,

Kragulj²,

Parežanin³

2018

Anali Ekon fak Subotica

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The aim of this paper is the analysis of knowledge and clusters as drivers of economic development and competitiveness. A theoretical overview of the knowledge and clusters development will be provided. The overview of indicators (economic growth, GDP per capita, unemployment, GCI, Innovation Indexes) will be given, and the findings based on the indicators will be discussed for EU candidate countries. Correlation between cluster development and competitiveness will be analysed. Knowledge and clusters are drivers of economic development and competitiveness, but they are not the key factors in those countries. Other factors have more effect on development and competitiveness. Limitation of the paper is a lack of the empirical studies and data of observed countries. Further research will be oriented to a particular sector and one country from EU candidate countries.

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“…According to research by the European Commission on improving the competitiveness of SMEs in the EU (European Commission Report, 2009), the findings are that 60% of all SMEs in the EU are family companies, producing 50% of all jobs. In Serbia, the SME sector generates about 30% of the total country's GDP (Minovic et al, 2016). Cruz and Letamendia (2010) supplemented with the following facts which are necessary for the understanding of policies of the EU countries in terms of institutional support:…”

Section: Institutional Support To Smes In Serbia and In The Eumentioning

confidence: 99%

Key factors of project success in family small and medium-sized companies: the theoretical review

Arsić

2017

Manage: J. Sustainable Bus. Manage, Solutions Emerging Econ.

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The paper proposes a systematization of the key success factors of projects, through the theoretical review of family-owned companies operating in the EU market. It is the small and medium companies that in their own way contribute to the overall success of the national economy in terms of economic activity, increased employment, development activities and defining better business environment. The theoretical review observed numerous studies of family businesses, and the contribution of this work is in the systematization of the results of previous research – over three horizons, i.e., over the role of managers in the creation of successful projects (or owner if it is a family enterprise), institutional support for companies in Serbia and the EU, specific industries and the parent (regional) markets where a family company operates. Project management, as a general representation of the concept of implementation of strategic and operational endeavors, contains many specifics in terms of critical success factors of projects depending on the environment in which they are implemented. The goal of the paper is reflected in the identification and presentation of critical success factors of projects implemented in family companies. The paper concludes with a discussion of the research results in relation to the existing, similar research studies, as well as with the announcement of future research, which will examine the conclusions drawn on a real sample.

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Strategic Orientation of SMEs: Empirical Research

Cited by 4 publications

References 33 publications

Strategic Orientations to Strengthen Policymaking: Study of Small-Scale Cassava-Based Agroindustry in Central Java, Indonesia

Strategic Orientations to Strengthen Policymaking: Study of Small-Scale Cassava-Based Agroindustry in Central Java, Indonesia

Knowledge and industry clusters as drivers of economic development and competitiveness

Key factors of project success in family small and medium-sized companies: the theoretical review

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