The integrative management model for restructuring Small and Medium-sized Enterprises (SME)

Abstract

The article presents the integrative SME restructuring management model. The model is aimed at divergent and sustained competitive performance, specifying measures for improving strategic management, rationalizing management functions and assessing infl uence of its results on SME competitiveness. The respective technique is proposed for enterprise effi ciency evaluation in terms of strategic and functional management. As to prepare the proper strategy for SME restructuring the author have determined and hence recommend the regularities for strategic decisions making towards restructuring as well as the ones for the rational selection of restructuring techniques. When executing SME restructuring author proposes to use the complex set of measures determined in order to ensure the reasonable effi ciency of functions of the enterprise as well as its products. In order to ensure rational management of restructuring the respective technique is also proposed to evaluate the effi ciency of SME restructuring. This let as to evaluate the benefi t of the executed changes within the enterprise as to identify the directions and actions needed to continue increasing the effi ciency of the enterprise activity. Based on the outcome of empirical investigations of SME restructuring in the EU over the last decade, underlining its specifi cs and complexity, the paper reveals the benefi t of use of the proposed model specifying all its phases to relevant techniques and actions. Results of its application in practice also confi rm the prevailing fl exibility when applying the model while characteristics of the complex of measures set under the latter can be adjusted to the specifi cs of SME and its business environment. While leading to greater possibilities to rationalize restructuring process, the model created by the author also provides an SME with prerequisites to improve the use and development of human, material and fi nancial potentials with pivotal contribution to its sustained competitiveness even in a changing business environment.