Development of Different SMEs Growing Stages Using Configurational Theory

Abstract

Objective The purpose of article is to study the factors that positively influenced the development of enterprises, named as "success factors", creating model of success factors that affect entrepreneurial process. The article investigates configuration during the process of company growth. Methodology/Technique The theoretical and methodological groundwork of the study is formed of scientific articles, monographs, regulatory enactments and researches, conference materials, internet resources, expert opinions published in Latvia and abroad. In the research generally accepted qualitative and quantitative data analysis methods of the economic science was employed, among them, statistical data processing, data grouping, and inductive-deductive data analysis methods. The scientific study employs surveying, observation study method, as well as comparative and analytical methods, which are used by the authors to compare and analyse facts and assess solutions to specific issues. Findings As start-ups grow, there are several factors that determine their successful operations. The empirical pre-research survey conducted by the authors allowed identifying several factors that affect a company's long-term development. According to analysis, the factors were divided into four groups. The factors determined by the authors of the article are mutually related and considered as a whole system according to configurational approach. Novelty : The authors point out that the factors described and grouped in this article will serve as the ground for further studies, during which the authors will perform factor classification. Type of Paper: Review Keywords: SMEs, Success Factors, Development of a Company, Growth, Stakeholders Values, Configuration.