ENTREPRENEURSHIP IN TIMES OF ECONOMIC AND FINANCIAL CRISES, METHODS OF ADAPTATION AND SURVIVAL

Radu Oprea, Ancuta Daniela Sarpe and Cristi Dumitru
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Radu Oprea: Lower Danube University, Galati,Romania
Ancuta Daniela Sarpe: Lower Danube University, Galati,Romania
Cristi Dumitru: Lower Danube University, Galati,Romania

Manager Journal, 2011, vol. 14, issue 1, 212-226

Abstract: This paper shows the main results of a research activity conducted in the South – East region of Romania during November 2009, over 117 small and medium-sized enterprises. The results help to better explain some of the social problems that have been generated in the region as a snow ball effect, due to the economic and financial crisis. The research has revealed the following. The majority of the employees of the companies that were interviewed do not participate in training courses related to project management and personal development. However, company administrators consider that such courses are useful to increase competitiveness in times of economic and financial crises. Personnel under 40 years of age suffer from a lack of professional training and dedication to job requirements. Companies have expressed an interest in accessing European Union funding. However, they do not have complete information that would allow them to start a project and finalize it. This lack of information is mainly due to lack of access to specialists who would write the projects and submit them. The majority of entrepreneurs consider they cannot write the projects themselves but on the other hand they do not have access to consulting companies or other organizations that could help them. Their main information source is the mass-media.As a result, companies have adjusted to the effects of the economic crisis, diminishing their activity and laying off people, decreasing the running expenses and stopping investing in their development.

Keywords: entrepreneurship; economic crisis; investment; development; survival methods. (search for similar items in EconPapers)
JEL-codes: D83 I21 J64 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:but:manage:v:14:y:2011:i:1:p:212-226

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