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THE NECCESSITY OF INTRODUCING CONTROLLING SYSTEMS IN SMEs

Rita Villas and Péter Popovics
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Rita Villas: Faculty of Economics and Business, University of Debrecen, Debrecen, Hungary
Péter Popovics: Faculty of Economics and Business, University of Debrecen, Debrecen, Hungary

CrossCultural Management Journal, 2020, issue 2, 105-110

Abstract: For businesses, one of the greatest challenges of the 21st century is to flexibly adapt to the challenges of the new Fourth Industrial Revolution, to increase their individual performance and take the right steps at the right time to maintain their competitiveness with increasing competition and growing market coverage. Globalization creates an increasing market opportunity and, at the same time, a responsibility for companies to catch up with global/European economic players and stand their ground. They can meet global challenges by providing high-quality services and manufacturing excellent products, for which a high level of leadership and management competencies and effective application of disciplines such as controlling are essential. While it is completely natural for large companies, SMEs - especially small ones - may not know and recognize the importance of collecting and processing accounting data beyond mandatory reporting and the decisive role of management accounting and controlling areas in decision support. Among small businesses, there is less interest in controlling systems. What is the reason for this low interest? How could they be convinced of the benefits of a controlling system? What solutions would they choose?

Keywords: Controlling system; Small enterprises; Strategic management (search for similar items in EconPapers)
JEL-codes: O12 (search for similar items in EconPapers)
Date: 2020
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