RESTRUCTURING OF SMALL BUSINESSES IN THE REPUBLIC OF CROATIA DURING CRISIS

Melita Cita, Milan Stanic and Berislav Bolfek
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Melita Cita: University of Applied Sciences of VERN, Zagreb
Milan Stanic: University of Applied Sciences of Slavonski Brod, Slavonski Brod

Interdisciplinary Management Research, 2015, vol. 11, 400-408

Abstract: Doing business in a modern environment exposes small companies to numerous risks. Due to changes in economy, which are primarily dictated by the global crisis, companies must adapt to changeable market conditions to continue their business operations. Therefore, their market survival depends on the timely conduct of certain activities by the company management, resulting in operational savings and ensuring their competitive advantage. This requires changes in the business strategy as well as the market, organisational and financial structure of these companies. The paper will show an in-depth analysis of the market position taken up by small businesses using three practical examples, and indicating the pros and cons of restructuring which does not necessarily result in a desired effect.

Keywords: restructuring; small businesses; financial indicators (search for similar items in EconPapers)
JEL-codes: F3 F34 G01 (search for similar items in EconPapers)
Date: 2015
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