THEORETICAL AND PRACTICAL ASPECTS OF PERFORMANCE OF SMALL AND MEDIUM-SIZED ENTERPRISES
DOI:
https://doi.org/10.17770/lner2017vol1.9.2749Keywords:
small and medium enterprises, measuring indicatorsAbstract
The number of small and medium-sized enterprises (SMEs) comprises a significant share in total number of enterprises in national economies, the SMEs are considered to be the backbone of economic growth, and most often their significance is valued by the gross value added and a number of new jobs created. Notwithstanding the established role of SMEs in national economies and the research studies conducted by Latvian scientists, the author considers that the theoretical and practical aspects of the SME's performance have not been sufficiently studied and published in Latvia. The purpose of the current study is to explore the theoretical and practical aspects of the SME's performance. The theoretical study is based on the analysis of the research publications, and the practical aspects are analysed using statistical information. General scientific research methods – information analysis and synthesis, the logical construction, monographic, data grouping and graphical representation methods – are used in the research. In the result, the theoretical aspects of the SMEs' performance are explored and the main indicators measuring the SMEs' performance are assessed.Downloads
References
/361/EC. Commission Recommendation of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises (notified under document number C(2003) 1422). Official Journal of the European Union. Downloaded from http://goo.gl/0YAC1Y
/280/EC: Commission Recommendation of 3 April 1996 concerning the definition of small and medium-sized enterprises (Text with EEA relevance). Official Journal L 107 , 30/04/1996 P. 0004 – 0009. Downloaded from http://goo.gl/aNPWaJ
AHMAD, M.M., ALASKARI, O. (2014). Development of assessment methodology for improving performance in SME's, International Journal of Productivity and Performance Management, Vol. 63 Iss:4, pp.477-498.
ANUAR, A., YUSUFF, R.M. (2011). Manufacturing best practices in Malaysian small and medium enterprises (SMEs). Benchmarking: An International Journal, Vol.18, Iss:3, pp.324-341,
ATKINSON, J., MEAGER, N. (1994). Running to stand still: the small business in the labour market. In Employment the small firm and the labour market (Ed.) J.Atkinson and D.J.Storey. London: Routledge.
BERNAERT, M., POELS, G. (2011). The Quest for Know-How, Know-Why, Know-What and Know-Who: Using KAOS for Enterprise Modelling. Advanced Information Systems Engineering Workshops, pp.29-40.
CIEMLEJA, G. (2010). Mazo un vidējo uzņēmumu darbības rezultativitāte. Problēmas un risinājumi. Promocijas darba kopsavilkums, RTU. 43 lpp.
COCCA, P., ALBERTI, M. (2010). A framework to assess performance measurement systems in SMEs. International Journal of Productivity and Performance management, Vol.59, Iss:2, pp.186.-200.
Commission Regulation (EU) No 651/2014 of 17 June 2014 declaring certain categories of aid compatible with the internal market in application of Articles 107 and 108 of the Treaty Text with EEA relevance. Retrieved August 5, 2017, from https://goo.gl/xi7F41
EGGERS,F., KRAUS, S., HUGHES, M., LARAWAY, L., SNYCERSKI, S. (2013). Implications of customer and entrepreneurial orientations for SME growth. Management Decision, Vol. 51, Iss:3, pp.524-546.
FADAHUNSI, A. (2012). The Growth of Small Businesses: Towards A Research Agenda. American Journal of Economics and Business Administration, Vol.4, Iss:1, pp.105-115.
FORSMAN, H. (2008).Business development success in SMEs: a case study approach. Journal of Small Business and Enterprise Development, Vol.15, Iss:3, pp.606 – 622.
GARENGO, P., BIAZZO, S. AND BITITCI, U.S. (2005). Performance measurement systems in SMEs: A review for a research agenda. International Journal of Management Reviews, Vol.7, Iss:1, pp.25–47.
HONG, P., JEONG, J. (2006). Supply chain management practices of SMEs: from a business growth perspective. Journal of Enterprise Information Management, Vol. 19, Iss: 3, pp.292 – 302.
HUDSON, M. (2001). Introducting integrated performance measurement into small and medium sized enterprises. PhD thesis, University of Plymouth, Plymouth
HUDSON, M., SMART, A., BOURNE, M. (2001). Theory and practice in SME performance measurement systems. International Journal of Operations & Production Management, Vol. 21 Iss: 8, pp.1096 – 1115.
KANTĀNE, I. (2013). Latvijas mazo uzņēmumu vadīšanas īpatnības. Promocijas darbs, LU, 270 lpp.
Kārtība, kādā komercsabiedrības deklarē savu atbilstību mazās (sīkās) un vidējās komercsabiedrības statusam. (2014.g.16.dec.). MK noteikumi Nr.776. Skatīts 05.08.2017., pieejas veids https://m.likumi.lv/doc.php?id=271191
KUENG, P., MEIER, A., WETTSTEIN, T. (2000). Computer-based Performance Measurement in SMEs: Is there any option? Ist International Conference on Systems Thinking in Management, pp.318.-323.
ĶIRSONS, M. (2017). Pārsteidz finansiālais „brīnums”. Dienas Bizness,, 23.05.
LEVY, M., POWELL, P., GALLIERS, R. (1999). Assessing information systems strategy development frameworks in SMEs. Information & Management, Vol.35, Iss:5, pp.247–261.
LIŠE, S. (2013). Mazo un vidējo uzņēmumu konkurētspējas analīze koka mēbeļu ražošanā Latvijā, LLU, 91 lpp.
LÖFVING, M., SÄFSTEN, K., WINROTH, M. (2014). Manufacturing strategy frameworks suitable for SMEs. Journal of Manufacturing Technology Management, Vol. 25 Iss:1, pp.7-26.
MALDIFASSI J.O., CAORSI, J.C. (2014). Export success factors of small- and medium-sized firms in Chile. Journal of Small Business and Enterprise Development, Vol. 21, Iss:3, pp.450-469.
OMERZEL, D.G., ANTONCIC, B. (2008). Critical entrepreneur knowledge dimensions for the SME performance. Industrial Management & Data Systems, Vol. 108, Iss:9, pp.1182 – 1199.
PANSIRI, J., TEMTIME, Z.T. (2008). Assessing managerial skills in SMEs for capacity building. Journal of Management Development, Vol. 27, Iss:2, pp.251 – 260.
RAHMAN, S. (2001). A comparative study of TQM practice and organisational performance of SMEs with and without ISO 9000 certification. International Journal of Quality & Reliability Management, Vol.18, Iss:1, pp.35-49.
ROPEGA, J. (2011). Reasons and symptoms of failure in SME. International Advances in Economic Research. Vol.17, Iss:4, pp.476–483.
SBA Fact Sheet. Latvia (2016). Retrieved August 5, 2017, from https://goo.gl/QHMKhd
SINGH, R.K., GARG, S.K., DESHMUKH, S.G. (2008). Strategy development by SMEs for competitiveness: a review. Benchmarking: An International Journal, Vol.15, Iss:5, pp.525 – 547.
SME Performance Review 2016. Retrieved August 5, 2017, from https://goo.gl/2E5kWm
Statistics Database, 2017. Retrieved August 5, 2017, from https://goo.gl/k9wSiw
STOREY, D.J. (1994). Understanding the small business sector. London: International Thomson Business Press.
TATICCHI, P., CAGNAZZO, L., BOTARELLI, M. (2008). Performance Measurement and Management (PMM) for SMEs: a literature review and a reference framework for PMM design. Annual Conference La Jolla.
TONGE, J. (2001). A Review of Small Business Literature. Part 1: Defining The Small Business. WPS025. Manchester Metropolitan University Business School Working Paper Series. Retrieved August 5, 2017, from https://goo.gl/FHygbK
VINTEN, G. (1999). Corporate communication in small and medium-sized enterprises. Industrial and Commercial Training, Vol.31, No.3, pp.112.-119.
WATTS, T. & BAARD, V. (2005). The design of a performance measurement model for small firms within the service sector. Small Business Development Conference, pp.1-14,
WIJEWARDENA, H., NANAYAKKARA, G. AND ZOYSA, A.D. (2008) The owner/manager's mentality and the financial performance of SMEs. Journal of Small Business and Enterprise Development, Vol.15, Iss:1, pp.150–161.
