Factors Affecting the Management of Small and Medium-Sized Enterprises and Corresponding Recommendations
Year: 2024
Type: article
Abstract: Small and medium-sized enterprises (SMEs)play a crucial role in economic development. Their management methods and internal strategic decisions not only affect their own development but also influence the establishment of internal management systems within related industries. Therefore, identifying the factors that influence changes in business management methods is of paramount importance for SMEs. Additionally, due to the smaller size and scale of SMEs, they are easily affected by changes in various management factors. To mitigate risks and enhance development, SMEs must assess both individual and combined impacts of various factors. This article employs a literature review to examine SMEs comprehensively. It summarizes and analyzes existing research, identifies key management factors, and offers targeted recommendations. The research results show that human resource management, financial management, and technology management have important effects on the management methods of SMEs. All three aspects originate from the enterprise itself and continuously affect enterprise development from different angles. Therefore, this article also proposes corresponding recommendations for SMEs concerning these three aspects, in order to continuously improve enterprise management methods.
Author: Zhaohua Fan
Institution: University of Bristol
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4403846217