SMEs AND STRATEGIC PLANNING PROCESS: THE CASE OF NORTH-WESTERN REGION OF ROMANIA
SMEs AND STRATEGIC PLANNING PROCESS: THE CASE OF NORTH-WESTERN REGION OF ROMANIA

Summary/Abstract: The purpose of our study was to investigate the nature of the strategic planning activities conducted by the SMEs from the North-Western Region of Romania and to identify which of the companies’ characteristics (size, main field of activity and years of experience) influence these activities. The main contribution of our paper is that it’s one of the few to analyze the following elements of the strategic process in Romanian companies: development of a mission statement and objectives, the analysis of the external and the internal environment, the selection of the strategic alternatives, the implementation, the control and evaluation of the strategies. Our research revealed both positive strategic management practices and aspects that should be improved in order to increase SMEs’ chances of success.

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