MANAGERS’ PERCEPTIONS REGARDING MANAGEMENT CHALLENGES AND THE DEVELOPMENT OF ROMANIAN SMES. SELECTED FINDINGS FROM 2012-2015
MANAGERS’ PERCEPTIONS REGARDING MANAGEMENT CHALLENGES AND THE DEVELOPMENT OF ROMANIAN SMES. SELECTED FINDINGS FROM 2012-2015

Summary/Abstract: The importance of small and medium sized enterprises (SMEs) to the economy of Romania is fully demonstrated by indicators such as the number of enterprises, the number of employees, and the value added generated by this sector. If the level of the value added and the rate of employment are taken into account (both lower in 2013 than in 2008, when the financial crisis started), it may be stated that the recovery of this sector has not yet been accomplished. However, this article, focusing on the SMEs business environment in Romania, argues that this sector is slowly but steadily improving its performance. By investigating SMEs management practices as perceived by their managers, primary quantitative research was employed in order to collect data through four online annual surveys addressing Romanian SMEs throughout the period 2012-2015. Secondary research was also used in order to outline frames of reference describing the national context of business development. The findings of this paper highlight two dimensions of Romanian SMEs – one at the organizational level (aspects related to perceived organizational performance) and one at the individual level (particular attributes of people with leadership positions). From a practical standpoint, our empirical findings are relevant for both academics and practitioners who are interested in Romanian SMEs practices. The study is particularly valuable as it identifies trends in the evolution of Romanian SMEs management practices, as reported by their managers in the post economic crisis context (2012-2015).

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