Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech Republic
The topic of strategic management and decision making was underestimated by SMEs for a long term. Managers believed that experience, intuition and operability are the key success factors of their management work. These opinions have recently been abandoned in the management practice. This paper is f...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
EDP Sciences
2020-01-01
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| Series: | SHS Web of Conferences |
| Subjects: | |
| Online Access: | https://www.shs-conferences.org/articles/shsconf/pdf/2020/01/shsconf_ies_2019_02005.pdf |
| _version_ | 1829482812777955328 |
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| author | Straková Jarmila Talíř Milan |
| author_facet | Straková Jarmila Talíř Milan |
| author_sort | Straková Jarmila |
| collection | DOAJ |
| description | The topic of strategic management and decision making was underestimated by SMEs for a long term. Managers believed that experience, intuition and operability are the key success factors of their management work. These opinions have recently been abandoned in the management practice. This paper is focused on the analysis of strategic management and decision making and presents the outputs from research based on a test sample of 381 enterprises, of which 114 microenterprises, 141 small enterprises and 126 medium-sized enterprises. The company size categorization within this sample is corresponding to the SME structure in the South Bohemian Region. Lack of awareness of procedures for development of essential strategic documents such as vision, mission statements and a corporate strategy was observed. More than 60 % SMEs do not have such documents. are Similar results were obtained with respect to the development of a corporate strategy using the methods of a strategic situation analysis. This finding is alarming and its adverse impact can primarily be expected in a period of economic recession or downturn. |
| first_indexed | 2024-12-14T21:56:25Z |
| format | Article |
| id | doaj.art-0750d3aea1c6461e878fc2d360cc03c2 |
| institution | Directory Open Access Journal |
| issn | 2261-2424 |
| language | English |
| last_indexed | 2024-12-14T21:56:25Z |
| publishDate | 2020-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | SHS Web of Conferences |
| spelling | doaj.art-0750d3aea1c6461e878fc2d360cc03c22022-12-21T22:46:07ZengEDP SciencesSHS Web of Conferences2261-24242020-01-01730200510.1051/shsconf/20207302005shsconf_ies_2019_02005Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech RepublicStraková Jarmila0Talíř Milan1Institute of Technology and Business in České Budějovice, Faculty of Corporate StrategyInstitute of Technology and Business in České Budějovice, Faculty of Corporate StrategyThe topic of strategic management and decision making was underestimated by SMEs for a long term. Managers believed that experience, intuition and operability are the key success factors of their management work. These opinions have recently been abandoned in the management practice. This paper is focused on the analysis of strategic management and decision making and presents the outputs from research based on a test sample of 381 enterprises, of which 114 microenterprises, 141 small enterprises and 126 medium-sized enterprises. The company size categorization within this sample is corresponding to the SME structure in the South Bohemian Region. Lack of awareness of procedures for development of essential strategic documents such as vision, mission statements and a corporate strategy was observed. More than 60 % SMEs do not have such documents. are Similar results were obtained with respect to the development of a corporate strategy using the methods of a strategic situation analysis. This finding is alarming and its adverse impact can primarily be expected in a period of economic recession or downturn.https://www.shs-conferences.org/articles/shsconf/pdf/2020/01/shsconf_ies_2019_02005.pdfstrategic managementvision, missioncorporate strategysituation analysis |
| spellingShingle | Straková Jarmila Talíř Milan Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech Republic SHS Web of Conferences strategic management vision, mission corporate strategy situation analysis |
| title | Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech Republic |
| title_full | Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech Republic |
| title_fullStr | Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech Republic |
| title_full_unstemmed | Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech Republic |
| title_short | Strategic Management and Decision Making of Small and Medium-Sized Enterprises in the Czech Republic |
| title_sort | strategic management and decision making of small and medium sized enterprises in the czech republic |
| topic | strategic management vision, mission corporate strategy situation analysis |
| url | https://www.shs-conferences.org/articles/shsconf/pdf/2020/01/shsconf_ies_2019_02005.pdf |
| work_keys_str_mv | AT strakovajarmila strategicmanagementanddecisionmakingofsmallandmediumsizedenterprisesintheczechrepublic AT talirmilan strategicmanagementanddecisionmakingofsmallandmediumsizedenterprisesintheczechrepublic |