Challenges for Change Management in SMEs

Ana Nastase, Lauren?iu Coroban and Nicolae Vrana
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Lauren?iu Coroban: West University of Timisoara, Romania
Nicolae Vrana: Bucharest University of Economic Studies, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2023, vol. 24, issue 5, 826-832

Abstract: Entrepreneurship is a dynamic and multifaceted endeavour and the entrepreneurs must possess or develop a wide range of combination of personal and professional characteristics in order to be successful in their initiatives. These features are commonly associated with individuals who embark on the challenging and rewarding journey of starting and growing a business. In an interconnected world, a dynamic environment can bring both opportunities and challenges for SMEs. Organizations need to consider the global context when making strategic decisions and managing change, based on a systemic vision. This paper deals with change management for SMEs by thoroughly analysing and understanding the context of change, the individuals and organizations that are involved, being able to design and develop more informed strategies, anticipate potential obstacles, and implement effective solutions. This proactive approach enhances for the entrepreneurs the likelihood of successful adaptation and growth in the face of ongoing and dynamic change.

Keywords: entrepreneurship; SMEs; change management; performances (search for similar items in EconPapers)
JEL-codes: L26 M10 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:24:y:2023:i:5:p:826-832

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