Business Management Dynamics

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ISSN: 2047-7031

bmd Business and Management Dynamics bmd
ISSN: 2047-7031  
Volume  2   Issue 8  2013  
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Article Abstract
Managing crisis of SMEs with restructuring projects
Keywords:  crisis management, restructuring, project, project management, SMEs
Igor Vrečko, PhD and Karin Širec, PhD
While small and medium-sized enterprises in Slovenia, as well as in EU, constitute more than 99% of European enterprises, they are similarly vulnerable during economic declines as we are facing it since 2008. The paper deals with crisis management challenges in SMEs, focusing more on the strategic instead of business crisis. Projects based restructuring processes are presented as a suitable form for dealing with strategic crisis. Seven types of restructuring projects have been identified. Based on the characteristics of strategic crisis as well as on restructuring projects specifics of SMEs, a conceptual framework for dealing with strategic crisis is proposed. Specific of the model is its two-dimensionality, consisting of systemic and processing dimension for mastering restructuring projects in crisis situations.
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