Restructuring small and middle size enterprises (SME)

Abstract

The article presents SME restructuring management model aimed at divergent and sustained competitive performance, specifying measures for improving strategic management, rationalizing management functions as well as controlling restructuring process and assessing influence of its results on SME competitiveness. Based on the outcome of empirical investigations of SME restructuring in the EU over the last decade, underlining its specifics and complexity, the paper reveals the benefit of use of the proposed model specifying all its phases to relevant techniques and actions. Results of its application in practice also confirm the prevailing flexibility when applying the model while characteristics of the complex of measures set under the latter can be adjusted to the specifics 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 financial potentials with pivotal contribution to its sustained competitiveness even in a changing business environment.