Basic aspects of crisis management methodology in small and medium size business

Abstract

Concepts of crisis and crisis management (CM) are rather complex. Moreover, businessmen consider CM implementation necessary only when crisis strikes. As to small and medium size business (SMEs), CM is not considered necessary, because it has many peculiarities obstructing its introduction. Thus, it is necessary to elaborate a methodology that suits SMEs characteristics. Therefore, the task of this research is to characterize basic aspects showing the essence of CM methods in SMEs, to analyze key notions, influencing factors, CM structure and to consider implementation of these aspects in SMEs. The research evaluates also advantages and disadvantages of the developed methodology.